Hungary industrial output up 9.4 pc in December, up 7.5 pc in 2015

Budapest, February 5 (MTI) – Hungary’s industrial output rose by 9.4 percent year-on-year in December 2015, only slightly slower than an upward revised 9.6 percent in the previous month, the Central Statistical Office (KSH) said on Friday.

In 2015, industrial output was up by 7.5 percent after a 7.7 percent increase in 2014.

Adjusted for the number of workdays, industrial output rose by 6.9 percent in December and was up by 7.2 percent for the full last year. In 2015 industrial output surpassed the highest level reached before the crisis, KSH deputy department chief Miklós Schindele said.

In a month-on-month comparison, industrial output fell by 0.7 percent in December, adjusted for seasonal effects and the number of workdays. Output fell month-on-month after increases in September and November.

Economy ministry deputy state secretary Mark Aron Lenner told public news channel M1 that similarly to last year, Hungary’s industrial production is expected to grow by 7.5-8 percent in 2016. If the annual rate of growth is maintained, the government will be able to reach its goal to increase the proportion of industrial output in the GDP to 30 percent by 2020, he added.