Hungary industrial output grows 1.1% in February

Automotive

Hungary's industrial output was up 1.1% yr/yr in February according to unadjusted figures and sank 3.4% according to workday-adjusted figures, the Central Statistics Office (KSH) said in a first reading on Friday.

Output rose 0.8% m/m according to seasonally and workday-adjusted figures after increasing 2.2% in January.

It was the eighth monthly increase in the last 14 months. In December, output dropped a sharp 7.3% on the month after rising 3.5% in November.

In a twelve-month comparison, industrial output declined for the second consecutive month after growing every month in 2011. Both the January and February yr/yr drops came from high bases, though.

Industrial output rose 5.4% last year after a 10.6% increase in 2010. Output fell 17.8% in 2009.

KSH will publish a second reading of February figures on April 13.

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