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Financial News: Hungary Industrial Output Growth Accelerates As Estimated

Hungary Industrial Output Growth Accelerates As Estimated

11/14/2022 - 06:12:00 (RTTNews)

(RTTNews) - Hungary's industrial production accelerated further in September to reach its highest level in fifteen months, as initially estimated, latest figures from the Hungarian Central Statistical Office showed on Monday.

Industrial production climbed a working-day-adjusted 11.6 percent year-over-year in September, following a 9.1 percent increase in August. That was in line with flash data published on November 8.

Further, the latest rate of growth was the fastest since June 2021, when production had grown 18.3 percent.

The volume of production increased in the great majority of the manufacturing subsections, at the highest rate in the manufacture of electrical equipment, the agency said.

Manufacture of transport equipment grew significantly by 32.0 percent annually in October, and that of computer, electronic and optical products also logged a double-digit growth of 22.0 percent.

On a monthly basis, industrial production advanced a seasonally and working-day adjusted 1.6 percent in September versus a 0.5 percent gain in the preceding month. The latest figures match the initial estimate.

Separate official data showed that construction output rebounded 1.6 percent yearly in September, after a 0.4 percent fall in the prior month.

Compared to the previous month, construction output rose 2.2 percent from August, when it fell by 4.7 percent.

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