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Pickup in export, import growth positive sign for economy - analysts

Analysts told MTI a sharp pickup in export and import group in August, seen in fresh data published Monday, was a positive sign.

Year-on-year export growth accelerated to 13.0% in August from 5.8% in July, the Central Statistics Office (KSH) said in the morning. Import growth picked up to 13.3% from 2.5%.

Zoltán Árokszállási of Erste Bank said export and import growth were bigger than expected and give reason for confidence. The reason for the big increase will only become clear when a second reading of the data is published, he added.

KSH will publish the second reading on November 3.

Takarékbank’s Gergely Suppan said the pickup in export and import growth was even more remarkable in light of the fact that growth usually slows in August for seasonal reasons.