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Hungarian industrial output grew an annual 1.9 percent in February after declining by 6.7 percent in January, the Central Statistical Office (KSH) confirmed in a second reading on Wednesday.

Working day-adjusted output in February rose by an annual 3.9 percent, while month on month it grew by 4.8 percent, based on seasonally and working day-adjusted data.

Output of Hungary’s automotive sector dropped by an annual 6.6 percent. The contraction in the sector, which accounted for 30 percent of total manufacturing output in February, slowed from a 27.5 percent drop in the previous month.

Output of the computer, electronics and optical equipment segment, accounting for 12.5 percent of manufacturing, increased by 9.8 percent.

Steep Tobacco Price Increase Too Much for Hungarians' Pockets
Steep Tobacco Price Increase Too Much for Hungarians' Pockets

Hungary once again raised the excise tax on tobacco, taking the price of a pack of cigarettes to historic heights. According to a survey, this could eventually drive many to give up cigarettes. After failing to comply with the EU regulations on the tobacco excise tax for years, it was eventually the Court of Justice […]Continue reading

Output of the food, drinks and tobacco segment, which made up 10 percent of manufacturing sector output, fell by 2.9 percent.