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KSH: Industrial output rises 7.7% in January

Automotive

Output of the industrial sector in Hungary increased by a year-on-year 7.7% in January, accelerating from 4.7% in December, according to workday-adjusted figures, the Central Statistics Office (KSH) said in a first reading of data today.

According to a month-on-month comparison, output rose 4.3% in January according to seasonally- and workday-adjusted data, while in December, output was down 1.6% from a month earlier. The report added that January industrial output rose an unadjusted 5.3% from a year earlier compared to a 7.1% increase in December.

According to KSH head of department Miklós Schindele, in addition to vehicle manufacturing, the energy and chemicals sectors must also have contributed to the growth in January. KSH is scheduled to publish a second reading of data, including sales, on March 12.

Analysts interviewed by MTI said they expected the positive trends to continue this year.

ING Bank chief analyst András Balatoni said industrial output growth jumped in January following the usual slowdown at the end of last year.

Dávid Németh of K&H Bank said the latest data confirm that the sector's output could grow 5-6% in 2015.

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