Hungary: Industrial production picks back up in November
January 8, 2015
According to preliminary data released by the statistical institute (KSH) on 8 January, industrial output in November rose a working-day adjusted 5.8% over the same month last year, representing an improvement compared to the subdued 1.7% increase observed in October. November was the best reading in four months. The reading exceeded market expectations of a 2.5% increase and marked the 18th consecutive expansion.
On a monthly basis, industrial production expanded a seasonally- and working-day adjusted 3.3% in November, contrasting October’s 2.6% contraction. Meanwhile, annual average growth in industrial production inched down from 7.2% in October to 7.1% in November, the worst result in four months.