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Industrial output climbs 8.7% in May

Industrial output in Hungary rose 8.7% year-on-year in May according to unadjusted data, the Central Statistical Office (KSH) said in a first reading of data on Friday, state news wire MTI reports.

Industrial output rose 6.1% according to workday-adjusted data, KSH added.

In a month-on-month comparison, industrial output was up a seasonally- and workday-adjusted 1.4pc.

 Growth in industrial production was broad-based in May. The pace of output growth accelerated in vehicle manufacturing. Output in the computer, electronics and optical products segment and in the food, drink and tobacco products segment grew, but in both cases the pace was below the industrial average, KSH added.

In the first five months of the year, industrial output was up 6.7% from a year earlier.

KSH will publish a second reading of the data on July 12.