Hungary's March output fell by 4.1% y/y, below forecast - stats

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 5 (Reuters) - Hungary's industrial output fell by an annual 4.1% in March based on preliminary unadjusted data, below analyst forecasts for a 1.2% drop, the Central Statistics Office (KSH) said on Friday. In February industrial output fell by 4.6%. Adjusted for the effect of working days, output fell by 4.0% year-on-year, while in monthly terms, it grew by 0.2%, the KSH said. The KSH said the majority of the manufacturing subsections contributed to the production decline. The volume of production fell in the manufacture of computer, electronic and optical products, as well as in that of food products, beverages and tobacco products. In the first three months, industrial output fell by 3.1% in annual terms.
INDUSTRIAL OUTPUT CHANGE, % March 2023 Feb 2023 March 2022 Unadjusted y/y -4.1 -4.6 +3.9 Adjusted y/y -4.0 -4.6 +4.5 m/m +0.2 +0.3 -0.5


(Reporting by Antonis Pothitos and Berna Syuleymanoglu in Gdansk)

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