Hungary Industry

Hungary

Hungary: Industrial production slows markedly in August

October 7, 2014

Industrial output in August rose a working-day adjusted 2.9% over the same month last year. The reading, which represented a notable deceleration over the 12.3% increase observed in July, represents the slowest pace of expansion since September last year, according to preliminary data released by the statistical institute (KSH) on 7 October. However, the result marked the 14th consecutive expansion.

On a monthly basis, industrial production fell a seasonally- and working-day adjusted 5.7% in August, contrasting July’s 1.4% expansion. Meanwhile, annual average growth in industrial production inched up from 7.0% in July to 7.2% in August, reaching the highest result in 36 months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 7.8% in 2014, which is up 1.2 percentage points from last month’s projection. For 2015, the panel expects industrial output to expand 5.2%.


Author: Teresa Kersting, Economist

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Hungary Industry Chart


Hungary Industry August 2014

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.


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