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Hungary industrial output falls 1.4% in January

Output of Hungary's industrial sector fell an unadjusted 1.4% year-on-year in January, a first reading of data published by the Central Statistics Office (KSH) on Thursday shows. The decline slowed from a 7.6% drop in December. The workday-adjusted decline was level with the unadjusted figure in January. In a seasonally- and workday-adjusted month-on-month comparison, output rose 2.9% in January after falling 1.6% in December. KSH will publish a second reading of the data on March 14. TakarékBank analyst Gergely Suppan attributed the slowdown of the sector's decline in January in large part to the re-launch of a second shift at Japanese carmaker Suzuki's plant in Hungary. Capacities coming online at the local plants of German peers Audi and Daimler could lift industrial output by 3.5% this year, he added.