World Economy

Hungary Industrial Output Slows

Hungary Industrial Output SlowsHungary Industrial Output Slows

Hungary’s Central Statistics Office confirmed Tuesday in a second reading of data that industrial output in Hungary slowed to year-on-year rise of 1.5% in May, significantly lower than the previous month’s 6.3% increase, Business Recorder reported. According to KSH, the figure slowed due to two fewer workdays in the base period. However, adjusted for the difference in the number of workdays, growth edged down to 6.2% in May from 6.3% in April, KSH said. KSH data suggest that industrial export sales rose by 4.1% compared to the same period of the previous year. Industrial domestic sales fell by 5.8%, within this the domestic sales of manufacturing practically stagnated (-0.1%), the office said.