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Hungary's industrial output down 19.4% yr/yr in July

Hungary's industrial output declined 19.4% in July according to both calendar-adjusted and unadjusted figures, preliminary data published by the Central Statistical Office (KSH) show.

The rate of the drop was up from 18.8% in June.

Industrial output fell 0.7% from June after a 1.7% month-on-month increase in June, according to workday- and seasonally-adjusted figures. The monthly decline came after two months of increases.

January-July industrial output fell 22.1% as compared to the same period of 2008.

In a twelve-month comparison, unadjusted industrial output has fallen every month since October 2008, and workday-adjusted output has fallen every month since July of last year.

KSH will publish a detailed second reading of the July figures, together with industrial sales figures, on September 15. (MTI – Econews)