Hungary: Industrial production slows on manufacturing
November 16, 2012
In September, industrial output rose a working-day adjusted 0.6% over the same month last year, according to revised data released by the statistical institute (KSH) on 16 November. The increase, which defied market expectations of a 0.4% drop, was unrevised from the preliminary estimate released on 9 November but came in below the revised 1.8% expansion seen in August. The slowdown was mainly the result of a deceleration in manufacturing and a contraction in mining and quarrying. Compared to the previous month, industrial production expanded a seasonally and working-day adjusted 0.7% in September, which was well below the 2.8% expansion observed in August. As a result of the subdued reading, annual average growth in industrial production fell from 1.0% in August to 0.8%.