World Economy

Hungary Industrial Production Slows

Hungary Industrial Production SlowsHungary Industrial Production Slows

Hungary’s industrial production growth eased at a faster-than-expected pace in November, preliminary figures from the Hungarian Central Statistical Office showed Monday, ForexTV reported. The volume of industrial production climbed a working-day-adjusted 3.4% year-over-year in November, well below the 7.6% spike in October. Economists had expected the growth to slow to 7.3%. The measure has been rising since November last year. On a monthly basis, industrial production dropped 2.1% from October, when it rebounded by 1.1%. Another report from the statistical office revealed that retail sales growth improved slightly to 6.4% in November from 6.3% in October. The growth was forecast to slow to 5.5%. Meanwhile, Hungary’s calendar-adjusted retail sales rose by an annual 6.4% in November following 6.3% increase in October, the Central Statistics Office said on Monday. Food sales grew by 4%, non-food sales were up by 10.2%, while fuel sales rose by 3.7%.

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