Industrial output growth slows to 3.4% in November
In November 2017, the volume of industrial output rose by 3.4% year-on-year, according to a first estimate of monthly data from the Central Statistical Office (KSH). The index adjusted for working days was equal to the non-adjusted one.
The growth rate slowed from 7.6% in October.
The volume of industrial production in November – according to seasonally and working day-adjusted indices – was below the level of the previous month by 2.1%.
Year-on-year, unadjusted output grew by 5.2% in the first 11 months of this year, the KSH data shows.
Speaking to state news wire MTI, ING Bank chief analyst Péter Virovácz said the November data had disappointed, but predicted that full-year output would still be over 5%.
TakarékBank analyst Gergely Suppan said the slowdown could be temporary, noting that gauges of confidence in the sector, both in Hungary and its European export markets, are at highs not seen in years.
A second, more detailed estimate of industrial output figures for November 2017 is due to be published by the KSH this Thursday, January 11.
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.