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Hungary: industrial production grows over expectations

Increasing 3.8%, up food and electronic industry

07 July, 13:34
(ANSA) - BELGRADE, 7 LUG - The industrial production in Hungary grew 3.8% in May year-on-year, well above the market expectations, analysts from ING said in statement today. "In month-on-month terms, the data was the strongest so far this year," ING added, noting however that the general trend is "is still one of deceleration." According to the Hungarian statistical office, the most significant contribution to the grow of industrial production came from the food and electronic industries.

"Car manufacturing, which has the highest weight in Hungary's industry as a whole, was not even mentioned among the expansionary subsections. A possible explanation could be that companies hit capacity constraints," ING noted. (ANSA).

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