Hungary: Industrial production declines in January
March 7, 2012
In January, industrial output decreased a working-day adjusted 2.7% over the same month last year, according to preliminary data released by the statistical institute (KSH) on 7 March. The figure contrasted the sharp 6.9% increase recorded in December and was below market analysts' expectations. Compared to the previous month, industrial output grew 2.1% in seasonally and working-day adjusted terms, which failed to compensate for the sharp 7.3% decline observed in December. The relatively subdued print likely reflected the effect of the holiday season along with disruptions in the automotive manufacturing industry as a result of the floods in Thailand. Revised and more detailed data will be released in 14 March. Annual average growth in industrial production continued to moderate, falling from 5.3% in December to 4.2% in January.