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Hungarian Industrial Production Decline Exceeds Forecast In February

4/6/2012 3:19 AM ET

Hungarian industrial production dropped more-than-expected in February and at a faster pace compared to January, preliminary data released by the Central Statistical Office showed Friday.

Industrial production fell a working-day adjusted 3.4 percent year-on-year, following a 2.7 percent decline in January. Economists had forecast production to drop 1.1 percent. Output declined for the second month in a row.

On an unadjusted basis, industrial production rose 1.1 percent annually in February, after declining 0.5 percent in the previous month.

Month-on-month, industrial production increased a seasonally and working-day adjusted 0.8 percent in February, following a 2.2 percent gain in January. It was the second consecutive month of gain.

During the first two months of the year, production grew 0.3 percent from the same period last year.

The agency is set to release the detailed data on April 13.

by RTT Staff Writer

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