KSH: Automotive sector boosts industrial output in January

Automotive

Industrial output in Hungary rose by an unadjusted 5.3% in year-on-year terms in January, chiefly boosted by strong performance in the automotive sector and growth in the pharmaceutical and refining businesses, the Central Statistics Office (KSH) reported today. The rise slowed from a 7.1% increase in December.

Domestic sales rose 3.7% in January. Export sales were up by 5.7%.

Output of the vehicle manufacturing segment climbed 11.3% in January, with output of the pharmaceutical segment rising 11.3% and output of the oil refining segment climbing 20.2%.

Data from KSH suggest that overall industrial output had increased by a y.o.y. 7.7% in January, according to workday-adjusted figures, accelerating from December’s 4.7%.

In a month-on-month comparison, output rose 4.3% in January according to seasonally- and workday-adjusted data. In December, output was down 1.6% from a month earlier.

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