Czech industrial output fell more than expected
Hungarian industrial output falling at slower pace
CEE currencies slightly eased yesterday, giving up part of their last week´s gains. The trading volume was thinner due to the Early May Bank Holiday in the UK. Although the most watched event in the region – a NBP 2-day meeting – concludes only on Wednesday, today’s macroeconomic releases are worth watching as well. March industrial production fell both in the Czech Republic and Hungary. In Hungary, industrial output adjusted for working days dropped by 0.7 % y/y, following a 1% decline in February. Preliminary data show that contraction hit nearly all industrial segments. The only exception was automotives, owing to a new Mercedes plant.
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KBC