Hungary: Industrial production deteriorates further in December
February 6, 2014
According to preliminary data released by the statistical institute (KSH) on 7 February, industrial output expanded a working-day adjusted 4.4% over the same month of the previous year in December. The reading was below the revised 6.2% increase recorded in November (previously reported: +5.8% year-on-year).
On a monthly basis, industrial production fell a seasonally and working-day adjusted 1.9% in December, which followed the 0.2% decrease recorded in the month prior. 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