Capacity expansions, weaker forint may have lifted food sector output
Analysts suggested an increase in Hungary's food industry output in May could have resulted from capacity expansions and a weaker forint.
Food industry output climbed 2.2% in May from the same month a year earlier, a second reading of data published by the Central Statistics Office (KSH) on Friday shows. Headline output edged down 0.4% during the period.
TakarékBank chief analyst Gergely Suppan said the increase in food sector output may have come as poultry companies Gallicoop and Master Good used new capacity added in earlier announced expansions. Senior analyst at Raiffeisen Bank Zoltán Török said the weaker forint may have made Hungarian food products more attractive to domestic consumers during the month. The trend could continue for the rest of the year, he added.
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