Industrial growth picks up in May
Growth of Hungary's industrial sector picked up in May after slowing in April, bringing the January-May growth up to 10% compared to the same period in 2005, the Central Statistics Office (KSH) said in its latest monthly report published on Wednesday.
Domestic sales were up 5.5% and exports rose 15% in January-May, the report said. The manufacturing sector continued to account for more than half of output. Construction sector output fell in May, as in April, albeit from a high base. The sector's output stagnated in January-May compared to the same period a year earlier as the result of a slowdown in home and motorway construction.
Farming sector output fell 7.4% in January-May compared to the same period in 2005. The trade sector expanded 5.4% year-on-year in May.
Both exports and imports growth speeded up in May after slowing in April. In May, exports rose 21% year-on-year and imports increased by 20%. Hungary's trade deficit of €1 billion in January-May was 10% less than in the same period a year earlier. In April, export growth slowed for most products, while import growth speeded up for most products, with the exception of energy.
Consumer prices rose 2.8% in June year-on-year, the same as in May. The five-month CPI was 2.6%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.