Hungary: Industrial production moderates slightly in March
May 8, 2014
According to preliminary data released by the statistical institute (KSH) on 8 May, industrial output rose a working-day adjusted 8.1% over the same month last year in March. The reading marked a slight moderation over the 8.2% increase observed in February (previously reported: +8.1% year-on-year) and came in above market expectations of a 7.4% increase.
On a monthly basis, industrial production rose a seasonally- and working-day adjusted 0.4% in March, which was below the 1.4% expansion observed in February. Meanwhile, annual average growth in industrial production rose from 3.3% in February to 4.0% in March, which marked the highest print in over two years.
FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.2% in 2014, which is up 0.2 percentage points from last month's projection. For 2015, the panel expects industrial output to expand a stronger 4.4%.
Author: Armando Ciccarelli, Head of Data Solutions