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Financial News: Hungary Industrial Production Growth At 7-month High

Hungary Industrial Production Growth At 7-month High

10/05/2018 - 03:44:00 (RTTNews)

(RTTNews) - Hungary industrial production growth strengthened in August, expanding at its fastest pace since the start of the year, preliminary data from the Hungarian Central Statistical Office showed on Friday.

Industrial production grew a working-day adjusted 4.5 percent year-on-year following a 3.9 percent increase in July. Economists had forecast a 3.5 percent gain.

The pace of growth was the fastest since January, when output grew 6.9 percent.

On an unadjusted basis, industrial production grew 1.5 percent year-on-year after a 6.2 percent increase in the previous month.

On a month-on-month basis, industrial production rose a seasonally and working-day adjusted 3.8 percent in August, recovering from declines in the previous two months.

The monthly growth was in line with economists' expectations. The increase was also the fastest since August last year, when production grew at the same pace.

Detailed data for August industrial production is set to be released on October 12.

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