Hungary Factory Output Declines

Hungary’s industrial output dropped for a second month in October, reinforcing doubts about the government’s growth target after retail sales also failed to meet expectations and underscoring the economic slowdown taking place in the European Union’s eastern wing, Bloomberg reported. Industrial production fell 2.1% in October from a year ago, the statistics office reported on Tuesday. That compared with an estimate for zero growth by eight economists in a Bloomberg survey. Output rose 2% from the previous month. Gross domestic product expanded 2.2% in the third quarter from a year earlier, up from an initial reading of 2%.