Hungary Industrial Output Falls As Estimated

(RTTNews) - Hungary's industrial output continued to decline as initially estimated in July, the latest figures from the Hungarian Central Statistical Office showed on Friday.

The volume of industrial production fell a working-day-adjusted 1.0 percent annually in July, slower than the 4.9 percent decrease a month ago. That was in line with the flash data published earlier. Production has been falling since April.

Among subsectors, manufacturing output, which represents 96 percent of total industry, contracted 0.5 percent. Data showed that mining and quarrying output was 8.5 percent lower compared to last year, and the energy industry showed a shrink of 7.2 percent.

On a monthly basis, industrial production recovered 2.0 percent, following a 1.2 percent decline in June.

Separate official data showed that Hungary's construction output grew 4.9 percent annually in July, faster than the 2.6 percent rise a month ago.