Industry: the year ended with a bang

According to the preliminary data, industrial output was up 5.4 percent on an annual basis in December, a growth rate well above the mediocre yearly average rate, 3.6 percent. Compared to the previous month, industrial output grew by an impressive 2,5 percent.

The CSO flash report implies that a month-on-month jump in automotive production contributed to the good year-end pace of growth. Besides, the electronic industry, a major growth driver throughout 2018, posted strong growth in December as well.

While uncertainties abound, at present we expect industrial growth to markedly surpass in 2019 the average pace of the last year – in an ideal scenario, it can reach 5 percent. A rebound of automotive production activity will probably contribute to this acceleration, even though the month of January will see a temporary setback, due to the one-week strike action at Audi Hungaria.

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