Budapest, May 12 (MTI) – Hungary’s industrial output grew by 11.6 percent year-on-year in March according to unadjusted data, the Central Statistics Office (KSH) said on Tuesday, confirming preliminary figures released on May 7.
Output growth accelerated from 6.0 percent in February.
Industrial output grew 9.0 percent according to workday-adjusted data.
In a month-on-month comparison, industrial output rose by 2.6 percent in March from the preceding month.
Analyst Gergely Suppan of Takarekbank said the pace of industrial output growth could continue to increase in the second half of 2015 due to last year’s low base.
In contrast, Gergely Urmossy of Erste Bank said the two-digit pace of industrial output growth could slow down in the coming months as the purchasing managers index (PMI) fell to 51 points in April from 55.4 points in March.
The National Economy Ministry said industrial output could continue to grow as Suzuki started production of its new, higher-category model at the beginning of March, Audi has introduced a third shift and purchasing costs fell on lower oil prices.