Hungary's industrial output fell by an annual 7.3% in September based on preliminary unadjusted data, below analyst forecasts for a 8.2% drop, the Central Statistics Office (KSH) said on Tuesday. In August industrial output fell by 5.3%.

Adjusted for the effect of working days, output fell by 5.8% year-on-year, while in monthly terms, it surged by 1.2%, the KSH said. The KSH said most major branches of industry, such as cars, computers, electronics and optical goods manufacturing contributed to the September declined and the production of food, beverages and tobacco products also shrank.

In the first nine months, industrial output fell by 4.9% in annual terms. INDUSTRIAL OUTPUT CHANGE, % September August 2023 September 2022 2023 Unadjusted y/y -7.3 -5.3(-5.2*) 11.3 (12.3*) Adjusted y/y -5.8 -6.1 11.6 (12.5*) m/m 1.2 -2.4 1.6 (1.1*) *revised (Reporting by Antonis Triantafyllou and Marta Maciag in Gdansk)