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Hungary's Industrial Production Falls As Estimated

Hungary's industrial production dropped in February in line with previous estimates, final 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. 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 also marked a second consecutive month of gain.

Production in manufacturing sector rose 0.5 percent year-on-year in in February. Mining and quarrying output increased 5.9 percent. The output of energy industry grew 6.7 percent.

The statistical office also reported that industrial export sales rose 1.1 percent in annual terms in February, while domestic sales increased 3.9 percent.

Total new orders in the observed branches of manufacturing practically stayed at the level of the same period of the previous year. New export orders dropped 7.2 percent while new domestic orders rose 57.1 percent.

by RTTNews Staff Writer

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