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Financial News: Hungary Industrial Production Growth Eases In March

Hungary Industrial Production Growth Eases In March

05/06/2022 - 06:21:00 (RTTNews)

(RTTNews) - Hungary's industrial production rose for the fifth month in a row in March, albeit at a softer pace, data from the Hungarian Central Statistical Office showed on Friday.

Industrial production increased a working-day adjusted 4.2 percent annually in March, after a 4.8 percent growth in February. The latest growth was the slowest since December, when output was up 3.6 percent.

The industrial production volume increased an unadjusted 3.6 percent yearly in March, after a 4.8 percent gain in the previous month. Economists had expected a 2.2 percent.

The majority of the manufacturing subsections contributed to the growth in March, while the manufacture of transport equipment declined considerably due to semiconductor shortages, and other material supply problems.

On a monthly basis, industrial production dropped a seasonally and working-day adjusted 0.1 percent in March, after a 1.9 percent growth in the preceding month. Output declined for the first time in six months.

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