October 5, 2018 / 7:02 AM / 2 months ago

Hungary's prelim Aug output growth drops to 1.5 pct y/y, below fcast

    BUDAPEST, Oct 5 (Reuters) - Hungary's preliminary unadjusted
industrial output grew by an annual 1.5 percent in
August, down from 6.2 percent year-on-year in July and well
below a 3.8 percent analyst forecast, the Central Statistics
Office (KSH) said on Friday.
    Adjusted for working days, output increased by an annual 4.5
percent, as there were one fewer working days in August than in
the same period last year. 
    The electronics industry posted robust growth, the food
industry underwent a more modest expansion, while vehicle
manufacturing, the country's flagship industry, contracted on an
annual basis.
    
    KSH STATISTICIAN MARTA PACZARI
    "There were one fewer working days this August, which
dragged down the headline figure. That said, vehicle
manufacturing contracted on an annual basis, at about the same
pace as in July."
    (In July, vehicle manufacturing fell 6.4 percent
year-on-year, according to detailed data published last month.)
                
 INDUSTRIAL OUTPUT      Aug 2018    July 2018   Aug 2017
 Unadjusted y/y              1.5          6.2        6.5
 Adjusted y/y                4.5          3.9        6.0
 m/m                         3.8         -1.9        3.8
 
    NOTE: Month-on-month figures are seasonally and working day
adjusted. Adjusted year-on-year data reflect the number of
working days.

 (Reporting by Marton Dunai)
  
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