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Financial News: Hungary Industrial Production Rises; Retail Sales Growth S

Hungary Industrial Production Rises; Retail Sales Growth Slows

01/07/2022 - 07:24:00 (RTTNews)

(RTTNews) - Hungary's industrial production rose for the first time in three months in November and retail sales increased at a softer pace in November, data from the Hungarian Central Statistical Office showed on Friday.

Industrial production grew a working-day adjusted 2.1 percent year-on-year in November, after a 2.7 percent decline in October.

The industrial production volume increased 2.6 percent yearly in November. Economists had expected a 1.7 percent fall.

The majority of the manufacturing subsections contributed to the growth in November. The major contribution came from manufacture of food products, beverages and tobacco products.

On a seasonally adjusted basis, industrial production rose 2.9 percent in November, following a 0.5 percent gain in the preceding month.

Separate data from the statistical office showed that the retail sales rose a working-day adjusted 3.8 percent annually in November, after a 5.7 percent growth in October.

Sales of food products grew 2.1 percent annually in November. Sales of non-food products gained 4.9 percent and those of automotive fuel rose 6.2 percent.

On an unadjusted basis, retail sales rose 3.8 percent annually in November, after a 5.7 percent gain in the prior month.

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