Hungary: Second estimate confirms industrial production slowed in February
According to a second estimate by the Statistical Institute, industrial production rose a working-day-adjusted 1.7% year-on-year in February, matching the first estimate and decelerating from January’s revised 2.8% increase (previously reported: + 2.7% year-on-year). February’s reading largely reflected a slowdown in manufacturing output, particularly in the production of transport equipment, while output in the mining and quarrying sector fell at a quicker rate compared to the month prior. Meanwhile, output in the utilities sector picked up pace.
In seasonally- and working-day-adjusted terms, industrial output rose 0.2% month-on-month in February, which was below January’s 4.6% increase. The trend pointed down with annual average growth of industrial production coming in at 4.8% from January’s 5.2%.