Hungary: Industrial production contracts in July
September 10, 2012
In July, industrial output decreased a working-day adjusted 2.2% over the same month last year, which contrasted both the 0.6% rise seen in June and market expectations that had industrial production growing 0.7%. Compared to the previous month, industrial production contracted a seasonally and working-day adjusted 1.2% in July, which followed the 2.2% decline observed in June. As a result of the subdued reading, the trend continues to point downwards, with the annual average growth in industrial production falling from 1.4% in June to 0.9%.