Hungary’s industrial output up 0.4 pc in May

Hungarian industrial output grew by an annual 0.4 percent in May, the Central Statistical Office (KSH) said in the first reading of data on Friday.

Adjusted for the number of working days of which there was one more in the base period, output increased by 3.8 percent.

Analysts told MTI that industrial output growth could become stronger again in the coming months on the installation of new production capacities and the favourable outlook.

Péter Virovácz of ING Bank noted that

the month-on-month output growth has been the strongest increase this year.

András Horváth of Takarékbank said working day-adjusted industrial output growth could accelerate to 6.5 percent this year from 5.6 percent in 2017 and unadjusted growth to 6 percent from 4.8 percent in 2017.

As we wrote yesterday,

Hungary takes the second worst place since 2000 in the EU’s inflation rates even though that, in the past few years, short-term inflation statistics have improved in the country.

Utility and healthcare prices have increased significantly and are most affected by inflation, read more HERE.

Source: MTI