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Hungary’s industrial output climbs 11.6% in March

Hungary’s industrial output climbs 11.6% in March

BUDAPEST: Hungaryʼs industrial output grew by a year-on-year 11.6% in March and by a month-on-moth 2.6% – while the workday-adjusted index showed a y.o.y. output growth of 9%, the Central Statistics Office (KSH) reported yesterday.

Analysts Vivien Barczel and Gergely Ürmössy of Erste Bank told Hungarian news agency MTI that the March industrial output increase was well above expectations, adding that output growth could continue in the coming months. Gergely Suppan of Takarékbank noted that the March industrial output growth was outstanding, adding that KSH also revised the data for the previous two months considerably upwards, according to MTI.

Output growth was driven by vehicle manufacturing, the electronics sector and food industry, KSH statistician Ildikó Mikó told reporters after the release of the preliminary data. In the first quarter, Hungaryʼs industrial output rose 8.0% year-on-year, KSH said.