Industrial production drops 1% in May
Industrial output volume in Hungary dropped 1% between April and May, but increased a healthy 9.6% year-on-year, according to a report published by the Central Statistics Office (KSH) today. The decline in April-May ended a trend of steady increases over the last four months.
Analysts said the 1% drop does not suggest any downward trend, and they noted that Q1 2014 production compensated for the weak performance of Q4 2013. More slowdown is expected in the coming months, as automotive production is near capacity, so it cannot drive further growth in manufacturing output, analysts said.
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