Josef hírek

2011.01.09. 11:20

Industrial output up in November after October slowdown

<p>Budapest, January 7 (MTI) - Hungary s industrial output growth picked up to 14.5 percent year-on-year according to both unadjusted and workday-adjusted figures in the twelve months to October, the Central Statistical Office (KSH) said on Friday.</p>

The figure was well over the 8.2 percent estimate by analysts.

    November output rose a seasonally- and workday-adjusted 4.3 percent from October. The rise was the biggest one since May and followed a 1 percent adjusted monthly drop in October.

    Industrial output data for November was better than expected, analysts told MTI.

    MKB Bank chief analyst Zsolt Kondrat said domestic sales, in addition to exports, were probably behind the rise, as domestic sales dropped by more than 7 percent in a year-on-year comparison in October.

    Zoltan Arokszallasi of Erste Bank said the 4.3 percent month-on-month growth in November was largely due to an increase in exports. German industrial order stock climbed 5 percent during the period, well over the expected 1 percent, and lifted Hungary s industrial output, he added.

    Both analysts estimated full-year industrial output would grow 11 percent in 2010.

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