Hungary Industry

Hungary

Hungary: Industrial production speeds up to 40-month high in June

August 6, 2014

Industrial output in June rose a strong working-day adjusted 11.3% over the same month last year, reaching the highest pace of expansion since February 2011, according to preliminary data released by the statistical institute (KSH) on 6 August. The reading marked an acceleration over the 10.1% increase observed in May.

On a monthly basis, industrial production rose a seasonally- and working-day adjusted 1.8% in June, which contrasted May’s 0.6% contraction. Meanwhile, annual average growth in industrial production rose from 5.4% in May to 6.3% in June, which marked the highest print in 32 months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 6.6% 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 June 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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