Hungary's industrial output up 6.1 pct in October

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BUDAPEST, Dec. 6 (Xinhua) -- Hungary's industrial output rose 6.1 percent year-on-year in October, the Central Statistical Office (KSH) said here on Friday citing preliminary data. The calendar-adjusted increase was 6.4 percent.

In the first ten months of 2019, industrial output rose 6.3 percent compared to the same period of 2018, according to KSH.

"The performance of the automotive segment, which has the biggest weight in the industrial sector, slowed significantly, as did growth in the computer, electronics and optical equipment segments," KSH said in a statement.

"Output growth of the food, drinks and tobacco products segment was above the industrial output average," KSH said.

"The scale of growth in the Hungarian industrial sector was a surprise considering dampening demand on foreign markets and the weak performance of industry across Europe," David Nemeth, chief analyst at K&H Bank, told Hungarian news agency MTI.

"The output of the sector remains strong in spite of more discouraging data from Germany," MTI quoted ING Bank senior analyst Peter Virovacz as saying. "New manufacturing capacity could maintain the pace of growth in the coming months, bringing full-year growth to around 6.5 percent." Enditem

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