Financial News: Hungary Industrial Output Growth Accelerates To 8.7%

Hungary Industrial Output Growth Accelerates To 8.7%

(RTTNews) - Hungary's industrial production growth rebounded sharply in August, flash data from the Hungarian Central Statistical Office showed on Tuesday.

The volume of industrial production advanced an unadjusted 8.7 percent yearly in August, faster than the 4.7 percent increase a month ago. In June, production logged a double-digit growth of 10.1 percent.

The growth in industrial production volume was primarily driven by the manufacture of transport equipment and the manufacture of computers, electronic, and optical products, the agency said.

On a working-day-adjusted basis, the annual growth in industrial production also quickened to 8.7 percent in August from 4.7 percent in the prior month.

Compared to the previous month, industrial production rose a seasonally-and-working-day-adjusted 1.0 percent in August versus a 1.8 percent rebound in July.

Separate official data showed that the annual retail sales growth moderated to 2.4 percent in August from 4.9 percent in the prior month. The volume of sales increased by 1.9 percent in non-specialized food and beverage shops, while sales dropped by 4.8 percent in specialized food, beverage, and tobacco stores.

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