Hungary: Industrial production slows down in November
January 14, 2014
Industrial output expanded a working-day adjusted 5.8% over the same month of the previous year in November 2013 according to more detailed data released by the statistical institute (KSH) on 14 January. The reading was slightly below the 6.0% increase recorded in October and was driven by an increase in mining and quarrying as well as in manufacturing.
On a monthly basis, industrial production fell a seasonally and working-day adjusted 0.5% in November, which mirrored October's figure. Meanwhile, annual average growth in industrial production rose from a flat reading in October to 1.1% in November.
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