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Country Report Hungary Product Image

Country Report Hungary

  • ID: 2101527
  • November 2014
  • Region: Hungary
  • 27 Pages
  • The Economist Intelligence Unit

Data released by the Central Statistical Office show that industrial output increased by 5.2% year on year in September (working-day adjusted), up from 2.8% in August, but still the second-smallest annual rise in 2014, and well below the double-digit rates of expansion recorded in May-July.

Month on month, industrial output in September increased by 2.7% (adjusted for seasonal and calendar effects), recovering barely half of the output lost in August, when production fell by 5.7% month on month. Industrial sales in September were up by 5.7% year on year, including 2% growth in domestic sales and 8% growth in exports. In the first three quarters of 2014 industrial output still showed healthy year-on-year growth of 8.6%, keeping the sector on track for its best annual performance since 2010.

According to a breakdown of August data released earlier by the statistical office, the slowdown in industrial production growth in August was caused primarily by a lengthy summer production break at a single large automotive factory, although growth slowed in almost all industries. The September data show that the auto industry was also largely responsible for the modest pace of recovery in that month, with its output rising by 15% on the year, up from 5% year-on-year growth in August, but well below the annual growth rates of almost 30% recorded in the first half of the year.

Country Report Hungary

Industrial growth stages modest recovery in September
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