FX.co ★ Hungary Industrial Output Growth Improves To 5.7%

Hungary's industrial production growth accelerated at the end of the 2022, as initially estimated, the latest data from the Hungarian Central Statistical Office showed on Monday.

The volume of industrial production rose a working day adjusted 5.7 percent yearly in December, after a 0.9 percent growth in November, as estimated.

On an unadjusted basis, industrial production increased 2.0 percent in December, faster than the 0.6 percent gain in the preceding month, in line with the initial estimate.

The volume of production declined in the majority of the manufacturing subsections. Out of the increasing ones, however, the manufacture of electrical equipment grew the most, the agency said.

On a monthly basis, industrial production rebounded seasonally, and working-days adjusted by 3.8 percent in December, following a 0.7 percent drop in the preceding month, as initially estimated.

In a separate report, the statistical office revealed that the construction output contracted 3.9 percent in December, in contrast to a 7.6 percent rebound in the prior month.

In comparison to the main construction groups, the construction of buildings increased by 1.1 percent, while the civil engineering declined by 12.7 percent.

Month-on-month, the construction output declined 3.7 percent from November, when it advanced by 7.6 percent