Hungary: Second estimate confirms industrial output growth moderated in June
August 13, 2018
According to revised data released by the Hungarian Central Statistical Office (KSH) on 13 August, industrial output rose a working-day adjusted 3.1% year-on-year in June. The print confirmed the preliminary estimate and came in below the 3.8% increase in May. June’s expansion came on the back of healthy growth in the manufacturing sector and a jump in production in the mining sector; the energy sector, however, continued to contract notably. In the manufacturing sector, which makes up over 90% of the index, the strongest increases were recorded in the manufacturing of computer, electronic and optical products; and of rubber and plastics products, and other non-metallic mineral products. In terms of sources of demand, domestic sales rose at a much stronger pace than export sales.
In month-on-month, seasonally- and working-day adjusted terms, industrial production dropped 1.2%, contrasting a 1.8% increase in May.
Annual average growth in industrial production, meanwhile, moderated further from May’s 4.7% to 4.5% in June.