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Financial News: Hungary Industrial Production Declines; Retail Sales Rise

Hungary Industrial Production Declines; Retail Sales Rise

11/05/2021 - 07:03:00 (RTTNews)

(RTTNews) - Hungary's industrial production declined in September and retail sales increased, data from the Hungarian Central Statistical Office showed on Friday.

Industrial production dropped a working-day adjusted 1.7 percent year-on-year in September, after a 0.5 percent rise in August.

The industrial production volume decreased 2.3 percent yearly in September. Economists had expected a 0.3 percent rise.

The majority of the manufacturing subsections contributed to the growth in September. The largest contribution came from manufacture of transport equipment.

On a seasonally adjusted basis, industrial production fell 0.3 percent in September, following 2.9 percent decline in the preceding month.

Separate data from the statistical office showed that the retail sales rose 5.8 percent yearly in September, following a 4.1 percent growth in August.

Sales of food products rose 3.0 percent annually in September. Sales of non-food products increased 8.1 percent and those of automotive fuel gained 8.4 percent.

On an unadjusted basis, retail sales grew 5.8 percent annually in September, following a 4.6 percent rise in the prior month.

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