Hungary: Industrial output drops less than expected
February 7, 2013
In December, industrial output fell a working-day adjusted 3.4% over the same month the previous year, marking the third consecutive contraction, according to preliminary data released by the statistical institute (KSH) on 7 February. The contraction, which was smaller than the 4.0% expected by the market, followed the sharp 7.1% decline recorded in November.
Compared to the previous month, industrial production fell a seasonally and working-day adjusted 2.5% in December, which exceeded the 0.4% decrease observed in November.
As a result, industrial production contracted 1.3% in the full-year 2012, which contrasted the 5.8% increase recorded in 2011.