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Hungary: Industrial output growth at over one-year high in March

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Christian Fernsby |
Hungary factory
Europe   On the other hand, the energy sector contracted at a sharper rate

Industrial output increased a working-day-adjusted 8.0% year-on-year in March and marking the strongest result since October 2017.

According to the Hungarian Central Statistical Office (KSH), March’s reading was bolstered by a stronger expansion in manufacturing output—which makes up over nine-tenths of the index—and by another month of skyrocketing growth in the mining and quarrying sector.

On the other hand, the energy sector contracted at a sharper rate.

Within the all-important manufacturing sector, the manufacture of transport equipment, motor vehicles, and electrical equipment registered the fastest increases.

In month-on-month, seasonally- and working-day-adjusted terms, industrial production growth came in at 1.0%, matching February’s print.

Lastly, annual average growth in industrial production rose to 4.4% from 3.9% in February.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.1% in 2019, which is down 0.1 percentage points from last month’s projection.

For 2020, the panel expects industrial output to grow 4.0%.


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