Hungary industrial output eases 0.5 per cent in December

Hungarian industrial output eased by an annual 0.5 percent in December, based on a first reading of unadjusted data released by the Central Statistical Office (KSH) on Wednesday.

Adjusted for the number of working days, output climbed by an annual 4.5 percent in December.

For the full year, output was up an annual 4.8 percent.

In a month-on-month comparison, output rose by 1.2 percent in December based on seasonal data adjusted for the number of working days.

A KSH official noted that there were two fewer work days in December than in the base period, explaining the discrepancy between the adjusted and unadjusted figures.

Output of the automotive segment grew in December, while output of the electronics and food segments stagnated, the official added.

Commenting on the data, Gyula Pomázi, the deputy state secretary for industry strategy and economic regulations, said industrial output is likely to continue growing apace in the upcoming period, a view supported by the strong purchasing managers confidence index, the stock of orders and capacity boosting investments. Last year, the vehicle industry performed less well than previously expected but this was counterbalanced by growth in other areas, Pomázi said. Securing the required amount and quality of resources for the industrial sector will be a difficult task in 2018, he added.

Source: MTI