Hungary: Industrial production rebounds in April
June 7, 2013
In April, industrial output rose a working-day adjusted 2.9% over the same month last year, according to preliminary data released by the statistical institute (KSH) on 7 June. The reading, which contrasts the 0.7% drop recorded in March, marks the first expansion after sixth consecutive contractions.
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 1.2% in April, which was three times the 0.4% increase observed in March.
Building on the strong annual increase, the trend is pointing upwards, with annual average growth in industrial production stepping up from minus 1.2% in March to minus 0.7% in April.
FocusEconomics Consensus Forecast panellists expect industrial production to grow 1.0% this year, which is down 0.4 percentage points from last month's projection. For next year, the panel expects industrial output to expand a stronger 3.7%.