Financial News: Hungary's Industrial Output Recovers In September, Retail

Hungary's Industrial Output Recovers In September, Retail Sales Growth Improves

(RTTNews) - Hungary's industrial production expanded for the first time in six months in October, while retail sales growth accelerated further, separate reports from the Hungarian Central Statistical Office showed on Thursday.

The volume of industrial production rose an unadjusted 1.3 percent annually in September, reversing a 7.4 percent fall a month ago.

Among the manufacturing subsections, the manufacture of computer, electronic, and optical products, as well as the manufacture of food products, beverages, and tobacco products, grew from last year.

Meanwhile, the decline occurred in the manufacture of transport equipment, as well as in the manufacture of electrical equipment.

On a working-day-adjusted basis, industrial output fell 1.5 percent annually in September versus a 4.8 percent drop in July.

On a monthly basis, industrial production rebounded 1.3 percent in September, following a 2.3 percent fall in the previous month.

The annual sales growth in retail sales accelerated to a 3-month high of 3.0 percent in September from 2.4 percent in August.

Sales volume grew 3.1 percent in food, drinks, and tobacco from last year, and those of non-food products advanced by 3.5 percent. Sales of automotive fuel increased at a slower pace of 0.6 percent.

Sales via mail order and the internet, which account for 9.0 percent of total retail sales, increased 9.5 percent from last year.

On a monthly basis, retail sales stalled in September on a seasonally and working-day-adjusted basis.

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