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HungaryTrends – The last week in Hungary’s business and finance
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See below MTI’s main business and financial news from the previous week:
INDUSTRIAL OUTPUT DROPS BY 4.7 PC IN JULY
Hungary’s industrial output fell by an annual 4.7 percent in July, the Central Statistical Office (KSH) said in a first reading of data.
Q2 GDP GROWTH RATE CONFIRMED AT 2.6 PC
Hungary’s GDP rose by 2.6 percent annually in Q2, KSH confirmed in a second reading of data. Growth accelerated from a first-quarter rate of 1.1 percent, which KSH revised upward by two-tenths of a percentage point on the back of better farm sector output.
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CONSUMER PRICES EDGE DOWN 0.1 PC IN AUG
Consumer prices in Hungary fell by an annual 0.1 percent in August, dropping for the fourth month in a row, KSH said. related article: CONSUMER PRICES EDGE DOWN 0.1 PC IN AUGUST
K AND H FIRST-HALF PROFIT CLIMBS 45 PC
K and H Bank’s consolidated first-half after-tax profit rose by 45 percent annually to 23 billion forints (EUR 64.8m) on higher client numbers, bigger contract values and the sale of the lender’s stake in Visa Europe, CEO Hendrik Scheerlinck said.
DANA TO INVEST HUF 15 BN IN GYŐR
US-based automotive industry supplier Dana said it will build a 46 million euro gear plant in Győr (NW Hungary) early in 2017. The plant, which will employ 200 people by 2020, was awarded a 2.9 billion forint (EUR 9.4m) state grant. Read more HERE.