Pickup in export, import growth positive sign for economy - analysts
Analysts told MTI a sharp pickup in export and import group in August, seen in fresh data published Monday, was a positive sign.
Year-on-year export growth accelerated to 13.0% in August from 5.8% in July, the Central Statistics Office (KSH) said in the morning. Import growth picked up to 13.3% from 2.5%.
Zoltán Árokszállási of Erste Bank said export and import growth were bigger than expected and give reason for confidence. The reason for the big increase will only become clear when a second reading of the data is published, he added.
KSH will publish the second reading on November 3.
Takarékbank’s Gergely Suppan said the pickup in export and import growth was even more remarkable in light of the fact that growth usually slows in August for seasonal reasons.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.