Hungarian Forint Falls From 2-day High Against Greenback After GDP Data
August 13 2010 - 7:28AM
RTTF2
The Hungarian Forint edged down against the US dollar from early
European session's 2-day high of 215.50 in New York trading on
Friday. The preliminary estimates of the Hungarian Statistical
Office showed today that Hungarian economy continued to expand in
the second quarter.
The gross domestic product grew 1% year-on-year on an unadjusted
basis in the second quarter, following a 0.1% growth in the
previous quarter. Economists were looking for an increase of
0.9%.
Hungary's industrial output increased 15.2% year-on-year in
July, a final report from the Hungarian Statistical Office showed
today. This followed a 13.8% increase in May. Economists were
expecting an increase of 13.1%.
The index, after adjusting to number of working days, rose 12.6%
annually, confirmed its preliminary estimate published on August
5.
On a monthly basis, industrial output rose a seasonally and
working day adjusted 0.8% in June after rising 5.4% in May.
As of now, the forint is trading near 219.47 versus the
greenback, compared to 218.61 hit late New York Thursday.
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