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Hungary January industrial output growth jumps after slump in December

Hungary's industrial output growth accelerated to an unadjusted 13.6%and a workday-adjusted 10.9% rise in the twelve months to January, the Central Statistical Office (KSH) said in a first reading on Tuesday.

January output jumped a seasonally- and workday-adjusted 15.5% from December. The sharp rise followed a big, 13.3% monthly decline in December, which was the biggest monthly drop since a 15.1% decline in December 2008 when the crisis hit Hungary. The January increase – the biggest one since a 10.3% increase recorded since January 2010 – brought output back near its November level.

In a month-on-month comparison, Hungary's industrial out fell in four months – February, July, October and December – last year, and rose in eight months of the year.

2010 output was up 10.5% from a year earlier after a decline of 17.8% in 2009 and no change in 2008.

KSH will publish a second reading of January output figures as well as domestic and export sales figures on March 17.