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Nov industrial output better than expected, augurs accelerated growth

Hungary's industrial output rose at surprisingly fast clip in November, and growth could pick up in December, analysts told MTI on Friday.

Hungary's twelve-month industrial output rose 14.5% in November, according to both unadjusted and workday-adjusted figures, the Central Statistics Office (KSH) said in a second reading on Friday.

Zoltán Török of Raiffeisen Bank said output continued to be driven by exports.

Exports climbed 20.7% in November while domestic sales dropped 4.9%.

If the recovery on Hungary's export markets is sustained, industrial output could continue to grow at a fast clip, Török said. He put full-year output for 2010 at 11%.

Gergely Suppán of TakarékBank said the 35% jump in new orders in November suggest the growth rate could climb over 20% in December. (MTI Econews)