Market Commentary and Intraday News

Hungary Industrial Output Falls Unexpectedly In July

257 days ago

(RTTNews) - Industrial production in Hungary decreased in July, contrary to economists' forecast for a modest expansion, preliminary data released by the Central Statistical Office showed Friday.

Gross domestic product (GDP) decreased a working-day adjusted 2.2 percent in July, reversing the previous month's 0.6 percent increase. Economists had forecast production to grow 0.7 percent in July.

On an unadjusted basis, industrial output remained unchanged from last year in July, the agency said.

On a monthly basis, seasonally adjusted industrial output decreased at a faster rate of 1.2 percent in July than 2.1 percent in the previous month.

In the January-July period, production dropped 0.3 percent from the corresponding period a year earlier, data showed.

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