Hungary Aug output up 4.4pc y/y, falls m/m

BUDAPEST: Hungary's industrial output rose by an annual 4.4 percent in August according to preliminary unadjusted data but fell by 0.4 percent when adjusted for the number of working days, the Central Statistics Office (KSH) said on Thursday.

The unadjusted August figure was well above analysts' median forecast for a 0.9 percent rise in a Reuters poll . A KSH statistician said the main reason behind the rise was more working days than in August last year.

The government expects the economy to grow by less than 2 percent this year, below its earlier forecast.