Are you sure?

Hungary industrial output grows 0.8% m/m, adjusted 12.6% yr/yr in June

Hungary's industrial output rose an unadjusted 15.2% and a workday-adjusted 12.6% in the twelve months to June 2010, the Central Statistical Office (KSH) said on Friday. Output rose a seasonally- and workday-adjusted 0.8% from May. Export sales continued to rise but an increase of domestic sales proved temporary.

Except for a slight downward revision of the monthly rise from 0.9%, the June output increases are unchanged from the first reading published on August 5.

In an adjusted month-on-month comparison, output rose each month this year except for a 1.3% moderate fall in February.

Export sales rose a seasonally and workday-adjusted 1.3% from May, rising for the third month in a row, but domestic sales fell a steep 3.3% from May after monthly increases in the previous two months.

June export volume was up 21.8% from a year earlier according to unadjusted figures and rose 18.8% according to workday-adjusted figures. After rising in May for the first time since September 2008, domestic sales fell an unadjusted 1.5% and a workday-adjusted 3.5% in the twelve months to June.

January-June output rose 9.0% from a year earlier, and domestic sales fell 5.1% while export sales rose 16.6% in the period.

Last year, Hungary's industrial output fell 11.8% with domestic sales contracting 12.5% and export sales dropping 18.8%.

Adjusted output has increased yr/yr each month this year after an uninterrupted twelve-month decline between October 2008 and December 2009. Export sales has risen yr/yr since last December, including double-digit rises in each of the first five months except for a 9.7% twelve-month increase in March. (MTI-Econews)