Hungary's industrial output fell by an annual 6.9% in May based on preliminary unadjusted data, below analyst forecasts for a 5.2% drop, the Central Statistics Office (KSH) said on Thursday.

In April industrial output fell by 8.3%. Adjusted for the effect of working days, output fell by 4.6% year-on-year, while in monthly terms, it grew by 1.6%, the KSH said. In the first five months, industrial output fell by 4.8% in annual terms. INDUSTRIAL OUTPUT CHANGE, % May 2023 April 2023 May 2022 Unadjusted y/y -6.9 -8.3 +9.5 Adjusted y/y -4.6 -5.8 +3.5 m/m +1.6 -2.5 +0.6

(Reporting by Mateusz Rabiega and Patrycja Zaras in Gdansk)