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Financial News: Hungary Industrial Output Growth At 15-Month High; Retail

Hungary Industrial Output Growth At 15-Month High; Retail Sales Growth Improves

11/08/2022 - 07:55:00 (RTTNews)

(RTTNews) - Hungary's industrial production expanded at the fastest pace in more than a year in September, while retail sales growth improved slightly, figures from the Hungarian Central Statistical Office showed on Tuesday.

Industrial production advanced a working-day-adjusted 11.6 percent in September, following a 9.1 percent gain in August.

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

On an unadjusted basis, industrial production growth eased to 11.3 percent from 14.2 percent.

The majority of the manufacturing subsections contributed to the production growth in September.

The manufacture of transport equipment, computer, electronic and optical products increased significantly, preliminary data showed.

On a monthly basis, industrial production climbed a seasonally and working-day adjusted 1.6 percent in September versus a 0.5 percent rise in the preceding month.

In a separate report, the statistical office revealed that retail sales grew a calendar adjusted 3.0 percent yearly in September, after a 2.4 percent rise in the preceding month.

Sales of non-food products were 2.7 percent higher in September compared to last year, while those of food, beverages and tobacco dropped 2.8 percent.

The volume of mail order and internet retailing, which accounted for 7.8 percent of all retail sales and involved a wide range of goods, fell by 2.4 percent yearly in September, the agency said.

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