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UPDATE - Hungary industrial output drops adjusted 0.4% yr/yr in August

Hungary's industrial output dropped a workday-adjusted 0.4% year-on-year in August after a 2.7% rise in July, the Central Statistics Office (KSH) said in a first reading on Thursday.

The workday-adjusted drop came from a high base -- a 15.4% rise in August 2010, last year's biggest increase -- but it was still the first calendar-adjusted yr/yr decline registered since December 2009.

Unadjusted output was up 4.4% yr/yr after a 0.3% rise in July and a 1.4% drop in June.

Seasonally and workday-adjusted month-on-month comparison shows output dropped 1.3% in August after a 0.8% increase in July and declines in the preceding two months. Output rose in four months and fell in four months in the first eight months of this year.

Industrial output was up 6.7% in January-August from the same period a year earlier.

Hungary's industrial output rose 10.6% in 2010 after a 17.8% drop in 2009 and leveling out in 2008.

KSH will publish a second reading of August output figures on October 14.