Automotive sector gives slight boost to industry

Automotive

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With the Hungarian automotive sector, a key driver of industry here, accelerating by 8.2% in January, compared to the same month a year earlier, industrial output rose by 6.5%, though adjusted for working days it only grew by 1.6%, according to a first release of data published by the Central Statistical Office (KSH) today.

Compared to the raw data, this significant difference is due to the fact that there were two more working days in January 2017 than a year earlier, KSH noted, adding that in a month-on-month comparison – according to seasonally and working-day adjusted indices – was below the level of the previous month by 0.1%.

The volume of industrial export sales rose by 8.6% compared to the same period of the previous year, according to KSH. Out of the two manufacturing subsections giving more than half of export sales, the export of transport equipment, representing 35% of manufacturing exports, grew by 8.5%. In the manufacture of computer, electronic and optical products – the other significant subsection accounting for 15% of manufacturing exports – the export volume increased by 4.4%.

Industrial domestic sales rose by 7.6%, within this, the domestic sales of manufacturing were 2.2% higher year-on-year, KSH added.

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