Hungary: Industrial production slows down in August
October 8, 2013
In August, industrial output rose a working-day adjusted 0.9% over the same month last year, according to data released by the statistical institute (KSH) on 8 October. The reading came in well below the 2.5% expansion recorded in July and undershot the 1.5% increase expected by the markets.
On a monthly basis, industrial production rose a seasonally and working-day adjusted 0.7% in August, marking an improvement over the 0.3% increase seen in July. Meanwhile, annual average growth in industrial production inched down from minus 1.0% in July to minus 1.1% in August.
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%, which is up 0.4 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist