Hungary's January output drops by 0.2% y/y, vy +5.0% forecast -stats

BUDAPEST (Reuters) - Hungary's industrial output declined by an annual 0.2% in January based on preliminary unadjusted data, below analyst forecasts for a 5.0% increase, the Central Statistics Office (KSH) said on Tuesday.

Adjusted for the effect of working days, output dropped by 3.2% year-on-year, while in monthly terms, it shrank by 5.1%, the KSH said.

The KSH said the output of the electrical equipment segment grew at the highest rate among the most significant branches of industry. Output in transport equipment, the manufacture of computer, electronics and optical products increased as well.

"The volume of production fell in the manufacture of food products, beverages and tobacco products," it added.

INDUSTRIAL OUTPUT CHANGE, Jan 2023 Dec 2022 Jan 2022

%

Unadjusted y/y -0.2 2.0 8.9

Adjusted y/y -3.2 5.6 7.1

m/m -5.1 3.6 3.0

(Reporting by Krisztina Than)