Hungarian industrial output growth accelerates to 14.4 percent in August

Output of Hungary’s industrial sector rose by an annual 14.4 percent in August, expanding at the fastest pace in more than a year, data released by the Central Statistical Office (KSH) on Thursday show.

Adjusted for the number of work days — of which there were two fewer in the base period — output increased 9.3 percent, accelerating from 6.6 percent in the previous month.

KSH said output of most branches of manufacturing rose in August. Output of the automotive industry “jumped”, albeit from a low base, while output of the computer, electronics and optical equipment segment and the food, drinks and tobacco products segment also “expanded significantly”, it added.

Output for the period January-August rose by an annual 6.1 percent.

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Retail sales grow 3.3 pc in August

Retail sales growth in Hungary reached 3.3 percent year-on-year in August, edging down from 3.8 percent in the previous month, data released by the Central Statistical Office (KSH) on Thursday show.
Adjusted for calendar year effects, retail sales growth slowed to 2.4 percent from 4.3 percent during the period. Adjusted food sales fell 2.4 percent in August, non-food sales edged up 0.5 percent and vehicle fuel sales climbed 18.4 percent.

In January-August, adjusted retail sales were up 8.4 percent compared with the same period last year.

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Source: MTI