May 2014 saw the rise of Hungarian industrial production by 9.6% compared to the same period last year, reported the Hungarian Central Statistics Office (Központi Statisztikai Hivatal, KSH), while analysts remain optimistic as the stream of good economic reports keep on coming.
March and April also saw a positive impact compared to 2013, with 10.6% and 10.1% rise in industrial output, meaning that May’s 9.6% may even be considered as a minor setback. Miklós Schindele, deputy head of department at KSH said during the presentation of data that the fall of production in May is reported to be caused by a setback in a some sectors of the food and chemical industries.
Miklós Schindele also added that while growth may be slowing down, almost every industrial sector did in fact show growth in May. The expansion in production is down to the good run of the automobile and associated supplier industries, along with an increase of sales in the food sector.
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