Hungary: Industrial production rebounds in June
August 6, 2013
According to preliminary estimates released by the statistical institute (KSH) on 6 August, industrial output expanded a working-day adjusted 1.7% over the same month last year in June, overshooting market expectations of a 0.5% increase. The print contrasted the 2.1% fall seen in May.
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 1.2% in June, which contrasted the 1.3% drop seen in May. As a result of the annual rise, the trend improved slightly, with annual average growth in industrial production increasing from minus 1.1% in May to minus 1.0% in June.
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 climb to a stronger 3.7%.