Industrial output growth falls on fewer workdays

Budapest, July 14 (MTI) – Hungary’s industrial output growth slowed year-on-year in May because of two fewer workdays in the base period, detailed data released by the Central Statistical Office (KSH) on Tuesday show.

Industrial output rose just 1.5 percent year-on-year in May, the KSH said, confirming data released a week earlier. The increase slowed from a 6.3 percent rise in the previous month.

However, adjusted for the difference in the number of workdays, growth edged down to 6.2 percent in May from 6.3 percent in April.

The detailed data show unadjusted output growth of the automotive segment, among Hungary’s biggest industries, slowed to 9.5 percent in May from 16.9 percent in April. The slowdown was due in part to a high base: last year, several carmakers started using new capacity in Hungary.

Source: http://mtva.hu/hu/hungary-matters