Industry in Hungary
Hungary - Industry
Second estimate confirms stronger growth in industrial production in August
According to revised data released by the Hungarian Central Statistical Office (KSH) on 12 October, industrial output rose a working-day adjusted 4.5% year-on-year in August. The print confirmed the preliminary estimate and came in above the 3.9% increase in July. August’s expansion came on the back of healthy growth in the manufacturing sector, which makes up over 90% of the index, with strongest increases recorded in the manufacturing of computer, electronic and optical products; as well as of rubber and plastics products, and other non-metallic mineral products. There was also a jump in production in the mining and quarrying sector, although it has significantly less influence on industrial output than the manufacturing sector. The energy sector, however, continued to contract. Meanwhile, in terms of sources of demand, domestic sales rose again at a solid pace, while exports sales declined.
In month-on-month, seasonally- and working-day adjusted terms, industrial production jumped 3.8%, contrasting July’s 1.9% drop.
In contrast, annual average growth in industrial production inched down from July’s 4.8% to 4.7% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.5% in 2019, which is unchanged from last month’s projection. For 2020, the panel expects industrial output to expand 3.9%.
Hungary - Industry Data
|Industrial Production (annual variation in %)||1.1||7.7||7.4||0.9||4.8|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Industry Chart
Source: Hungarian Central Statistical Office (KSH) and FocusEconomics calculations.
|Bond Yield||3.81||0.0 %||Oct 18|
|Exchange Rate||282.5||-0.68 %||Oct 18|
|Stock Market||37,485||0.04 %||Oct 18|
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October 16, 2018
At its latest monetary policy meeting held on 16 October, the Monetary Council of the Hungarian National Bank (MNB) left the base rate unchanged at its current record low of 0.90%, while also holding steady all other monetary policy instruments.
October 15, 2018
According to revised data released by the Hungarian Central Statistical Office (KSH) on 12 October, industrial output rose a working-day adjusted 4.5% year-on-year in August.
October 9, 2018
Consumer prices rose 0.3% over the previous month in September, up from August’s 0.1% month-on-month increase.
September 25, 2018
The GKI economic sentiment index, a composite indicator, dropped to a ten-month low of 5.5 points in September from 6.7 points in August and further below the record-high 10.5 points in July.
September 18, 2018
At its latest monetary policy meeting held on 18 September, the Monetary Council of the Hungarian National Bank (MNB) decided to leave the base rate unchanged at its current record low of 0.90%, while also holding steady all other monetary policy instruments.