(MTI) – Output of Hungary’s industrial sector rose by 8.1 percent in February from the same month a year earlier, the Central Statistical Office (KSH) said in a first reading of data today.
Output growth accelerated from 6.1 percent in January. The increase came from a low base in both months.
In a month-on-month comparison, seasonally- and workday-adjusted output rose by 1.6 percent. The monthly rise followed a 3.2 percent increase in January, which in turn came after three monthly declines.
In the first two months of 2014, output was up 7.1 percent from a year earlier.
Analysts polled by MTI said industry output growth was fuelled by increased domestic automotive production in February, helped by growth in Europe.
ING analyst Andras Balatoni said this could further boost industrial output and export growth in the first half of this year.
Senior analyst of K+H Bank David Nemeth also said industrial output continues to be driven by the automotive sector, noting also that the rise came from a low base in 2013.
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