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Hungary’s Industrial Output Up 5.9% In Oct

• 7 Dec 2018 8:50 AM
• Hungary Matters

Hungary’s industrial output rose by an annual 5.9% in October, the Central Statistical Office (KSH) said in a first reading of data.

Adjusted for the number of working days, output increased by 3.3%. For the period January-October, output rose by an annual 3.4%. In a month-on-month comparison, output rose a seasonally and workday-adjusted 2.0%.

A KSH statistician noted that the electronics segment showed robust performance in October. While vehicle manufacturing volume remained below the 5.9% average, it rose again after declining for three months, she added. The unadjusted data were influenced by the fact that there was one more workday in October this year than a year earlier.

Analysts said the October data well exceeded expectations after the 0.6% decline in September. Péter Virovácz of ING Bank predicted industrial output growth between 3.5% and 4% for the full year compared with 4.6% in 2017.

Gergely Suppan of Takarékbank said industrial output growth is supported by the installation of new production capacities as well as the positive industrial sentiment and confidence indices. He forecast industrial output growth of 3.6% in 2018.

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