06.10.202108:05:00UTC+00Hungary Industrial Production Growth Slows; Retail Sales Rise

Hungary's industrial production grew at a softer pace in August and retail sales increased, data from the Hungarian Central Statistical Office showed on Wednesday.

Industrial production grew a working-day adjusted 0.6 percent year-on-year in August, after a 10.2 percent rise in July.

The industrial production volume increased 2.6 percent yearly in August. Economists had expected a 4.8 percent rise.

The majority of the manufacturing subsections contributed to the growth in August. The largest contribution came from manufacture of transport equipment.

On a seasonally adjusted basis, industrial production fell 2.7 percent in August, following 0.6 percent decline in the preceding month.

Separate data from the statistical office showed that the retail sales rose 4.1 percent yearly in August, following a 3.0 percent growth in July.

Sales of food products rose 1.7 percent annually in August. Sales of non-food products increased 7.8 percent and those of automotive fuel gained 2.3 percent.

On an unadjusted basis, retail sales grew 4.6 percent annually in August, following a 2.5 percent rise in the prior month.