Hungary's industrial output drops 2.1% y/y in May 2013

By bne IntelliNews July 8, 2013

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.

Related Articles

Hungarian branch of Bucharest listed Digi to buy Invitel Tavkozlesi in €140mn deal

Bucharest listed Digi Communications announced on July 21 that its Hungarian subsidiary, Digi Tavkozlesi es Szolgaltato, has signed an agreement to acquire Hungarian broadband and telephone provider ... more

Czech judiciary denounces Poland's move to end separation of powers

Senior Czech judges on July 21 denounced Poland's judicial overhaul as an attack on the rule of law. With big street protests in the Czech Republic's neighbour seemingly gathering momentum – 120 ... more

Hungary's MOL strikes licensing deals essential to $1.9bn petrochemical expansion ambitions

Hungary's MOL announced on July 20 that it has struck licensing deals with Germany's Evonik Industries and Thyssenkrupp that will be essential in its plan to roll out a $1.9bn investment in ... more