Hungary: Industrial production decelerates in December
February 12, 2014
In December, industrial output expanded a working-day adjusted 4.4% over the same month of the previous year according to more detailed data released by the statistical institute (KSH) on 12 February. The reading met the preliminary estimate and marked a deterioration over the 6.2% increase observed in November. December's deceleration was driven by a fall in mining and quarrying as well as in electricity, gas, steam and air-conditioning supply.
On a monthly basis, industrial production fell a seasonally and working-day adjusted 1.9% in December, which was below the 0.2% fall recorded in November. Meanwhile, annual average growth in industrial production rose from 1.2% in November to 1.8% in December.
FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.9% in 2014, which is unchanged from last month's projection. For 2015, the panel expects industrial output to expand a stronger 4.3%.
Author: Dirina Mançellari, Senior Economist