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Hungary: Erste, industrial output rose 9% in September

'A surprisingly strong rebound' according to analysts

08 November, 13:08
(ANSA) - BELGRADE, NOVEMBER 8 - The volume of industrial output in Hungary showed a surprisingly strong rebound in September, well above "our expectation", rising by 9% y/y, according to the working day-adjusted figures, Erste Group Research said today, quoting new data from the Hungarian Statistical Office. According to Erste Group Research, the new figure shows a significant rebound compared to the previous month. The monthly increase in production was 3.1%, after a drop of 1.2%, seen in August. The rate of growth significantly accelerated in the manufacture of transport equipment, computer, electronic and optical products. "As a result of the latest statistics, the divergence between the performance of the German and Hungarian industry has further increased. An important reason for this could have been that European carmakers have reallocated some part of output to plants in CEE that so far favored Hungary too, while compact models that are being produced in Hungary so far have faced much smaller decline of demand," Erste noted. (ANSA).

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