July 6, 2018 / 7:03 AM / 10 months ago

Hungary's prelim May output growth slows to 0.4 pct y/y, below fcast

    BUDAPEST, July 6 (Reuters) - Hungary's preliminary
unadjusted industrial output grew by an annual 0.4
percent in May, undershooting a 2.1 percent forecast, after a
7.8 percent rise in April, the Central Statistics Office (KSH)
said on Friday.
    In working-day adjusted terms output increased by 3.8
percent year on year as in May 2018 there was one fewer working
day relative to May 2017.
    Output from the car industry, Hungary's flagship industrial
sector, contracted slightly, the KSH said.
    On a seasonally and working day adjusted basis, output grew
by 1.9 percent from the previous month, the fastest monthly
expansion since August 2017.
    "Beside the calendar effect there was a slight base effect
as well as in May 2017 unadjusted output grew by an annual 9.1
percent, creating a high base.
    "Food and electronics grew while vehicle manufacturing
slightly contracted. In smaller industries, rubber, plastics and
non-metallic minerals paced growth."
 INDUSTRIAL OUTPUT       May 2018   April 2018     May 2017
 Unadjusted y/y               0.4          7.8          9.1
 Adjusted y/y                 3.8          2.9          6.0
 m/m                          1.9          0.2          1.2
    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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