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November industrial output better than expected

Industrial output data for November was better than expected, analysts told MTI.

Hungary's industrial output rose 14.5% year-on-year in December, the Central Statistical Office (KSH) said in the morning. The figure was well over the 8.2% estimate by analysts.

MKB Bank chief analyst Zsolt Kondrát said domestic sales, in addition to exports, were probably behind the rise, as domestic sales dropped by more than 7% in a year-on-year comparison in October.

Zoltán Árokszállási of Erste Bank said the 4.3% month-on-month growth in November was largely due to an increase in exports. German industrial order stock climbed 5% during the period, well over the expected 1%, and lifted Hungary's industrial output, he added.

Both analysts estimated full-year industrial output would grow 11% in 2010. Kondrát put growth in 2011 at 7.0%. Árokszállási said it could reach 7.0-8.0%. (MTI – Econews)