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Financial News: Hungary Industrial Production Growth Slows In May

Hungary Industrial Production Growth Slows In May

07/07/2021 - 04:45:00 (RTTNews)

(RTTNews) - Hungary's industrial production grew at a softer pace in May, data from the Hungarian Central Statistical Office showed on Wednesday.

Industrial production grew a working-day adjusted 40.2 percent year-on-year in May, following a 59.2 percent rise in April.

The industrial production volume increased 39.1 percent yearly in May. Economists had expected a 43.3 percent rise.

All manufacturing subsections contributed to the growth in May. The largest contribution came from manufacture of transport equipment, mainly due to low base value caused by factory shutdowns and one-shift work schedule.

On a seasonally adjusted basis, industrial production rose 3.4 percent in May, after a 3.2 percent dcline in the preceding month.

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