Hungary: Second estimate confirms industrial output growth picks-up in April
June 13, 2018
According to revised data released by the Hungarian Central Statistical Office (KSH) on 13 June, industrial output rose a working-day adjusted 2.9% year-on-year in April, coming in above the 1.9% increase observed in March. April’s expansion came on the back of a healthy expansion in the manufacturing sector and a jump in production in the small mining sector; on the other hand, the energy sector swung from an expansion in March to a contraction in April. In the important manufacturing sector, the strongest increases were recorded in the manufacture of rubber and plastics products, and of basic metals and fabricated metal products. Lastly, growth in the volume of industrial export outpaced growth in domestic sales.
In month-on-month seasonally- and working-day adjusted terms, industrial production increased a meagre 0.2%, contrasting the 0.7% contraction in March.
Lastly, annual average growth in industrial production moderated further from March’s 5.0% to 4.9% in April.
Hungary Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.5% in 2018, which is down 0.3 percentage points from last month’s projection. For 2019, the panel expects industrial output to expand 4.5%.