Hungary: Industrial output declines most in over two years
April 6, 2012
In February, industrial production contracted a working-day adjusted 3.4% over the same month last year, according to preliminary data released by the statistical institute (KSH) on 6 April. The reading, which represented the sharpest decline since November 2009, was below the 2.7% decline seen in January and undershot market expectations, which had industrial output dropping a more moderate 1.1%. Compared to the previous month, industrial output increased 0.8% in seasonally and working-day adjusted terms, which was below the 2.2% increase seen in January. Revised and more detailed data will be released on 13 April. Annual average growth in working-day adjusted industrial production continued to moderate, falling from 5.0% in January to 3.1% in February.