Hungary: Industrial production rebounds in June
August 14, 2013
According to data released by the statistical institute (KSH) on 14 August, industrial output rose a working-day adjusted 1.7% in June over the same month last year. The print contrasted the 2.1% drop seen in May and was mainly due to an improvement in manufacturing output as well as in mining and quarrying. Compared to the previous month, industrial production increased a seasonally and working-day adjusted 1.2% in June, which contrasted the 1.2% drop seen in May. As a result of the annual rise, annual average growth in industrial production improved, inching up from minus 1.4% in May to minus 1.3% 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 expand a stronger 3.7%.