Hungary's industrial output decreased by 2.1% y/y in May 2013 after rising 5.3% y/y in the previous month, preliminary data from the statistics office showed. In workday-adjusted terms, production fell by 2.1% y/y as well. Seasonally-adjusted output dropped by 1.3% m/m, also reversing from an annual increase in the previous four months.
In cumulative terms, the industrial output was down 1.3% y/y in Jan-May 2012.
Detailed data on the industrial output will be published on July 12, 2013. Hungary’s industrial output declined by 1.7% y/y in full-2012. We expect the recent production expansion in the car industry to support recovery already in the first half of 2013.
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