Industrial production keeps expanding strongly

Acc140508_Ipari termelés_2_ENording to the preliminary data, undajusted industrial output grew by as much as 10.6% year-on-year, while the growth rate adjusted by working days – a more accurate indicator of the actual trends – was 8.1%, virtually identical with the February growth rate. Industrial production grew at an (unadjusted) rate of 8.4% in the first quarter of 2014.

 

T140508_Ipari termelés_1_ENhe seasonally and working day adjusted volume of output was up by 0.4% against the previous month, confirming the continuation of the upward trend. The preliminary external trade data suggests that export sales remained the crucial factor behind industrial growth. We expect the pace of expansion slow down during the rest of the year, yet the annual average growth rate may come close to, or even surpass, 6% in 2014.