Industry in Hungary
Hungary - Industry
Second estimate confirms industrial output growth moderated in June
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.
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%.
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||3.53||0.0 %||Aug 15|
|Exchange Rate||285.9||-0.68 %||Aug 15|
|Stock Market||35,826||0.04 %||Aug 15|
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August 14, 2018
The Hungarian economy continued to expand robustly in the second quarter.
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.
August 8, 2018
Consumer prices rose 0.3% month-on-month in July, matching June’s print.
August 7, 2018
According to preliminary data released by the Hungarian Central Statistical Office (KSH) on 7 August, industrial output rose a working-day adjusted 3.1% year-on-year in June, below the 3.8% increase recorded in May. In month-on-month seasonally- and working-day adjusted terms, industrial production contracted 1.2% in June, strongly contrasting the 1.8% rise recorded in May. Meanwhile, annual average growth in industrial production declined from 4.8% in May to 4.4% in June. A second estimate will be released on 13 August.
July 24, 2018
At its latest monetary policy meeting held on 24 July, 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.