Hungary's industrial output fell by an annual 8.3% in April based on preliminary unadjusted data, above analyst forecasts for a 2.5% drop, the Central Statistics Office (KSH) said on Wednesday. In March industrial output fell by 4.1%.

Adjusted for the effect of working days, output fell by 5.8%year-on-year, while in monthly terms, it shrank by 2.5%, the KSH said. In the first four months, industrial output fell by 4.3% in annual terms.

INDUSTRIAL OUTPUT CHANGE, % April 2023 March 2023 April 2022 Unadjusted y/y -8.3 -4.1 +3.3 Adjusted y/y -5.8 -4.0 +5.0 m/m -2.5 +0.2 (0.0) -0.9 (Reporting by Antonis Triantafyllou and Maria Gieldon in Gdansk)