August 7, 2018 / 7:02 AM / 3 months ago

Hungary's prelim June output growth grows to 4.2 pct y/y, beats fcast

    BUDAPEST, Aug 7 (Reuters) - Hungary's preliminary unadjusted
industrial output grew by an annual 4.2 percent in
June, somewhat overshooting a 3.95 percent forecast, after a 0.4
percent expansion in May, the Central Statistics Office (KSH)
said on Tuesday.
    In working-day adjusted terms output increased by 3.1
percent year on year as Whitsun fell to June in 2018 while it
was in May in 2017.
    Output from the car industry, Hungary's flagship industrial
sector, grew at a below average pace, the KSH said.
    On a seasonally and working day adjusted basis, output fell
by 1.2 percent from the previous month.
    
    KSH STATISTICIAN MARTA PACZARI
    "The workday effect was substantial. Whitsun fell to June
this year while it was in May last year, that was the main
cause.
    "In the three main industries, electronics grew faster than
the average in annual terms, the food industry was around the
average, while the vehicle manufacturing sector grew slower than
the average.
    "Among smaller industries, rubber, plastic and nonmetallic
items manufacturing grew especially rapidly, as did metal raw
materials and chemicals production."
        
 INDUSTRIAL OUTPUT     June 2018      May 2018   June 2017
 Unadjusted y/y              4.2           0.4         3.2
 Adjusted y/y                3.1           3.8         6.1
 m/m                        -1.2           1.8        -0.7
 
    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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