KSH confirms 6.2pc industrial output growth for August

Budapest, October 14 (MTI) – Hungary’s industrial output grew by an annual 6.2 percent in August, the Central Statistical Office (KSH) said in a second reading of data on Wednesday, confirming its first estimate.

The index adjusted for the number of workdays also increased by 6.2 percent.

In a month-on-month comparison, industrial output fell by 2 percent, according to seasonally and workday-adjusted data.

In the first eight months of 2015, industrial output was up 6.6 percent from a year earlier.

Hungarian industry performed exceptionally well in August in spite of the usual summer-holiday lull and factory shutdowns, Bela Glattfelder, state secretary at the economy ministry, told public television’s M1 news channel.

He said that output growth of above 6 percent put Hungary in Europe’s top league. A major expansion of exports aided industry and thanks to this Hungary is likely to enjoy a record foreign trade surplus this year.

Economic research firm Szazadveg said industrial output had been growing month-by-month in the autumn. The growth was in part due to a low base last year that resulted from a stoppage at the Suzuki factory in August, a statement from Szazadveg said. It added that sales were driven by exports and new orders were also up. The firm projects an 8 percent output growth for the whole of 2015, it said.

Source: http://mtva.hu/hu/hungary-matters