Hungary: Industrial production rises for second consecutive month
September 6, 2013
According to data released by the statistical institute (KSH) on 6 September, industrial output rose a working-day adjusted 2.5% over the same month last year in July. The reading came in above the 1.7% expansion recorded in June and marked the second consecutive expansion in industrial output, following a streak of seven periods of contraction.
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 0.3% in July, which came in below the 1.2% increase seen in June. Meanwhile, annual average growth in industrial production rose from minus 1.3% in June to minus 1.0% in July.
FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.0% this year, which is down 0.4 percentage points from last month's projection. For next year, the panel expects industrial output to expand a stronger 3.7%.
Author: Armando Ciccarelli, Head of Data Solutions