UPDATE - Hungary industrial output drops adjusted 0.4% yr/yr in August

Automotive

Hungary's industrial output dropped a workday-adjusted 0.4% year-on-year in August after a 2.7% rise in July, the Central Statistics Office (KSH) said in a first reading on Thursday.

The workday-adjusted drop came from a high base -- a 15.4% rise in August 2010, last year's biggest increase -- but it was still the first calendar-adjusted yr/yr decline registered since December 2009.

Unadjusted output was up 4.4% yr/yr after a 0.3% rise in July and a 1.4% drop in June.

Seasonally and workday-adjusted month-on-month comparison shows output dropped 1.3% in August after a 0.8% increase in July and declines in the preceding two months. Output rose in four months and fell in four months in the first eight months of this year.

Industrial output was up 6.7% in January-August from the same period a year earlier.

Hungary's industrial output rose 10.6% in 2010 after a 17.8% drop in 2009 and leveling out in 2008.

KSH will publish a second reading of August output figures on October 14.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.