Hungary: Industrial production continues to drop in March
May 15, 2013
In March, industrial output fell a working-day adjusted 0.7% over the same month last year, marking the sixth consecutive contraction, according to preliminary data released by the statistical institute (KSH) on 15 May. The print, nevertheless, marks an improvement over the revised 1.0% decline recorded in February (previously reported: -1.1% year-on-year).
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 0.4% in March, which was above the 0.1% increase seen in February. As a result of the annual contraction, annual average growth in industrial production worsened, stepping down from minus 1.1% in February to minus 1.2% in March.
FocusEconomics Consensus Forecast panellists expect industrial production to grow 1.0% this year, which is down 0.4 percentage points from last month's projection. For next year, the panel expects industrial output to expand a stronger 3.7%.