Hungary Industrial Production Growth Highest In 9 Months

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Hungary’s industrial production rose at the fastest rate in nine months in October, data from the Hungarian Central Statistical Office showed on Friday.

Industrial production grew a working-day adjusted 2.7 percent year-on-year in October, after a 1.0 percent decrease in September.

The latest growth in output was the biggest since January, when production rose 3.1 percent.

The industrial production volume increased 0.6 percent yearly in October after a 2.2 percent rise in September. Economists had forecast a 1 percent gain.

A growth in production was observed in manufacture of transport equipment, manufacture of computer, electronic and optical products, while a decline was seen in the majority of manufacturing subsections, manufacture of food products, beverages and tobacco products, the agency said.

On a seasonally adjusted basis, industrial production rose 2.8 percent monthly in October, following a 2.3 percent gain in the prior month.

The material has been provided by InstaForex Company – www.instaforex.com

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