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Hungary Industrial Production Growth Slows More Than Forecast

Hungary's industrial production growth eased at a faster-than-expected pace in November, preliminary figures from the Hungarian Central Statistical Office showed Monday.

The volume of industrial production climbed a working-day-adjusted 3.4 percent year-over-year in November, well below the 7.6 percent spike in October.

Economists had expected the growth to slow to 7.3 percent. The measure has been rising since November last year.

On a monthly basis, industrial production dropped 2.1 percent from October, when it rebounded by 1.1 percent.

Another report from the statistical office revealed that retail sales growth improved slightly to 6.4 percent in November from 6.3 percent in October. Meanwhile, the growth was forecast to slow to 5.5 percent.

by RTTNews Staff Writer

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