Hungary: Industrial production remains unrevised in August
October 12, 2012
In August, industrial output rose a working-day adjusted 1.4% over the same month last year, according to revised data released by the statistical institute (KSH) on 12 October. The figure was unchanged from the preliminary estimate published on 5 October and contrasted the 2.2% drop seen in July. The improvement was mainly the result of a rebound in the manufacturing sector. In addition, mining and quarrying production accelerated notably, whereas electricity, gas, steam and air contracted over the same month last year. Compared to the previous month, industrial production expanded a seasonally and working-day adjusted 2.6% in August, which contrasted the 1.2% decline observed in July. As a result of the monthly reading, annual average growth in industrial production inched up from 0.9% in July to 1.0%, breaking the downward trend in place since April last year.