Hungary Industrial Output Falls Further; Retail Sales Growth Improves

(RTTNews) - Hungary's industrial production declined for the second straight month in February, while retail sales growth rebounded, separate reports from the Hungarian Central Statistical Office showed on Wednesday.

The volume of industrial production rose an unadjusted 1.5 percent annually in February, slower than the 2.5 percent fall a month ago.

Production volume decreased in the majority of the manufacturing subsections compared to last year, the agency said.

The manufacture of computer, electronic, and optical products and electrical equipment grew, while a decline occurred in the production of transport equipment, food products, beverages, and tobacco products.

On a working-day-adjusted basis, industrial production dropped 1.5 percent, in contrast to a 0.3 percent rise in the prior month.

Monthly, industrial output contracted 1.8 percent, reversing a 1.5 percent growth in the prior month.

The annual retail sales growth improved to 3.8 percent in February from 3.0 percent in January. The volume of sales advanced by 2.2 percent in specialized and non-specialized food retailing, and the turnover in non-food retailing rose by 5.0 percent. Online sales were 8.9 percent higher compared to last year.