London analysts: the November industrial production data forecasts a deepening recession

The Hungarian industrial production datas of November, suggest that in the fourth quarter of last year the Hungarian economy’s recession  has continued to deepen the, however, this year, the automotive production boom is expected stabilize Hungary's industrial output – London analysts predict.

According to preliminary datas of the Central Statistical Office (KSH) the industrial production in November was 6.9 percent below the datas of a year ago. London analysts’ forecasted a 3.5 percent decline on an annual comparison for the month before.

Daniel Hewitt, senior analyst for one of London's largest investment banking group the Barclays expressed his view that the Hungarian manufacturing sector is now suffering from the weakness of both internal and external demand. (Kertész Róbert, MTI)