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Hungary’s industrial output climbs in April

Hungary’s industrial output climbs in April

Hungary’s industrial output rose by an annual 7.8 percent in April, the Central Statistical Office (KSH) said in the first reading of data on Wednesday.

Adjusted for the number of working days, of which there were two fewer ones in the base period, output increased by 2.9 percent.

Output in the manufacturing sector was up in all segments, a KSH statistician said.

Of the three biggest segments, output of the automotive and food industries was above the headline figure, while output of the electronics industry was under it.

ING Bank chief analyst Péter Virovácz said industrial output had been more or less stable since January. Output could pick up in the second half of the year on the back of new capacity, he said, adding that PMI and other measures of confidence also indicated there would be a slight acceleration.

Takarékbank analyst Gergely Suppán said the April output figure was a little below expectations, but added that the outlook was favourable. He forecast full-year growth of 6.5 percent, up from 4.8 percent last year.

In a month-on-month comparison, output in April was up 0.2 percent based on seasonally and working day-adjusted data.

For the January-April period, output increased by an annual 3.8 percent.

Photo: MTI

Source: MTI

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