Facebook Blogging

Edward Hugh has a lively and enjoyable Facebook community where he publishes frequent breaking news economics links and short updates. If you would like to receive these updates on a regular basis and join the debate please invite Edward as a friend by clicking the Facebook link at the top of the right sidebar.

Wednesday, July 09, 2008

Hungary's Industrial Production

Hungary's industrial output rose by 2.2% year on year in May, according to unadjusted data and was up by 4.7% year on year, on a working days adjusted basis, according to preliminary data from the Central Statistics Office (KSH) yesterday. Following last month's 11.8% (uncorrected) and 6.5% (wd adjusted) increase this is a marked slowdown.

Output dropped by 0.7% month on month in May, according to figures adjusted seasonally and by working days, versus a 1.4% pickup in April.

This data would suggest that Hungarian export growth is slowing, and it is, since exports dropped month on month in May. How much of the slowing is to forint appreciation and how much to growth slowdowns in the eurozone also remains to be seen.

No comments: