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Industrial output accelerates in October, up 6%

Automotive

Hungary’s industrial output growth accelerated in October, outdoing forecasts, preliminary data released by the Central Statistics Office (KSH) on Friday showed. Industrial output rose 6.0% year-on-year in October according to both unadjusted and workday-adjusted figures.

Economists had forecast an increase of 5.8%. The engine of the increase in output is car production which produced extraordinary growth, determining the rate for the whole sector, national news service MTI-Econews cited Miklós Schindele, deputy department chief of the statistics agency, as saying.

After adjusting to seasonal and working day variations, output fell 0.5% month-on-month after a 1.8% growth in September, the Budapest-based agency report.

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