ADVERTISEMENT

Industrial output data better than expected

Automotive

Hungary's industrial output fell by less than expected in August, analysts told MTI on Friday, after the publication of fresh data. Industrial output fell an unadjusted 0.8% in August from the same period a year earlier, the Central Statistics Office (KSH) said early Friday. Adjusted for the number of workdays in the period, output rose 1.4%.

Márta Balog-Beki of Quaestor Securities said the drop was much less than the 1.5% fall expected earlier. She attributed the slower decline to expanding automotive industry output and improved performance in the oil industry.

TakarékBank's Gergely Suppan said the workday-adjusted increase was a positive surprise. Output should be supported in the coming months by the start of a second shift at German carmaker Daimler's new plant in Kecskemét (C Hungary) and the launch of production at an expansion at the Opel plant in Szentgotthárd (W Hungary).

Zoltán Török of Raiffeisen Bank said the decline in August was well under the 2.0-2.5% drop across the European Union. He added that the expanding automotive sector could still not offset the declines in other segments of the economy.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.