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KSH: Hungary’s industrial output up 5.3% in April

Automotive

ksh

A 5.3% increase in Hungarian industrial production in April was confirmed today in a second estimate released by the Hungarian Central Statistical Office (KSH). The increase indicates a positive direction for the country’s GDP growth.

Volume index of industrial production. Corresponding period of the previous year equals 100. (Source: Central Statistical Office)

April saw an overall increase of 5.4% in the volume of Hungary’s industrial production, when analyzed through seasonal and working day indices, according to KSH’s report. 

This confirmation to the initial KSH report of last Tuesday solidifies the overall 1.5% increase in the volume of industrial production in the first four months of the year compared to the same period last year. 

In contrast to April, March’s volume of industrial output fell by 4.6%, mostly due to a 6.7% decrease in Hungary’s automotive sector.

While Hungary’s GDP growth in Q1 saw its first negative quarter in four years, April’s boost in industrial production should help stimulate growth in the next quarter.

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