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Hungary: Erste, industry performing better than expected

Production grew by 5.9% y/y in February

05 April, 15:07
(ANSA) - BELGRADE, APRIL 5 - The volume of the industrial production in Hungary accelerated to 5.9% year-on-year in February from the 5% registered in January, according to working day-adjusted figures, Erste Group Research said in a statement today, based on data from the Hungarian national statistical Office.

Most segments of the manufacturing sector contributed to growth, with the output growing the most in car manufacturing, with the production of computers, electronic and optical goods also accelerating, the statement reads.

"Given the higher than expected January and February industrial output figures, the sector seems to have been fairly resilient to unfavourable growth prospects of the Eurozone and so far has not shown any sign of slowdown," Erste said.

According to the new forecasts of Erste analysts, the industrial output in Hungary will grow in the range of 4.5-5% annually this year. (ANSA).

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