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Financial News: Hungary Industrial Production Increases As Estimated

Hungary Industrial Production Increases As Estimated

07/13/2022 - 06:04:00 (RTTNews)

(RTTNews) - Hungary's industrial production increased in May, as initially estimated, figures from the Hungarian Central Statistical Office showed on Wednesday.

Industrial production rose a working-day adjusted 3.4 percent year-over-year in May, after a 4.7 percent rise in April, as estimated.

The latest rate of growth was the slowest since November last year, when output rose 2.3 percent.

On an unadjusted basis, industrial production growth accelerated sharply to 9.4 percent in May, in line with initial estimate. In April, production grew 3.1 percent.

The majority of the manufacturing subsections contributed to the growth in May, and the manufacture of electrical equipment grew at the highest rate.

On a monthly basis, industrial production increased a seasonally and working-day adjusted 1.4 percent in May, after a 1.5 percent fall in the preceding month, as initially estimated.

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