According to Hungarian news agency MTI, similar to the previous month, output growth was driven by vehicle manufacturing, which expanded at an even faster pace than in January, KSH statistician Miklós Schindele said. In crude oil refining, however, there was a significant slowdown as stocks accumulated earlier were reduced during the month, he added.
TakarékBank analyst Gergely Suppan told MTI that industrial output in the first months of the year may have been lifted by the launch of production of a new model at Japanese carmaker Suzukiʼs plant in Hungary, while output could rise on base effects in the second half of the year, he added. He put full-year growth at 7%, down from 7.6% in 2014.
K&H Bank chief analyst David Németh projected full-year output growth of 5.7% and said the pace of growth could be supported by an improvement in European economies, according to MTI.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
