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HUNGARY: Industrial Output Drops 2.9% Y/Y in November; Retail Sales Rise

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary
  • Industrial output dropped an annual workday-adjusted 2.9% compared with a 3.1% decline in October, below the median estimate of a 2.1% drop as per the Bloomberg survey. Output of most manufacturing branches declined, the Hungarian Statistics Office said. On a month-on-month basis, output fell 1.6%.
  • Working day adjusted retail sales rose 4.1% y/y in November after rising 3.6% y/y in October, above estimates of a smaller 3.3% rise. Sales of food, beverages and tobacco rose 5.3% y/y while sales of non-food products rose 4.5% y/y.
  • There are no other data releases scheduled for this week. CPI data for December highlights the local slate next week, with the NBH set to meet next on Jan 28.
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  • Industrial output dropped an annual workday-adjusted 2.9% compared with a 3.1% decline in October, below the median estimate of a 2.1% drop as per the Bloomberg survey. Output of most manufacturing branches declined, the Hungarian Statistics Office said. On a month-on-month basis, output fell 1.6%.
  • Working day adjusted retail sales rose 4.1% y/y in November after rising 3.6% y/y in October, above estimates of a smaller 3.3% rise. Sales of food, beverages and tobacco rose 5.3% y/y while sales of non-food products rose 4.5% y/y.
  • There are no other data releases scheduled for this week. CPI data for December highlights the local slate next week, with the NBH set to meet next on Jan 28.