Automotive sector output growth slows to 5% in Feb

Automotive

Output of Hungaryʼs automotive sector, an engine of industrial growth, rose 5% year-on-year in February, decelerating from the previous month, Hungarian news agency MTI reports, citing a second reading of data released by the Central Statistical Office (KSH).

Output growth of the sector, which accounts for about 32% of total manufacturing output, slowed from 10.6% in January.

Output of the computer, electronics and optical equipment sector, which accounts for around 12% of manufacturing output, increased 14.6% year-on-year in February.

Output of food, drink and tobacco products rose 10.6%. The sector generates more than 10% of manufacturing output.

Headline industrial growth was 4.1% year-on-year in February, KSH confirmed.

Adjusted for the number of workdays and the leap year effect, industrial output was up 1.7%.

In a month-on-month comparison, industrial output was up a seasonally- and workday-adjusted 0.2% in February. 

Export volume of the industrial sector increased 6.1% year-on-year in February as exports of the automotive sector rose 6% and exports of the computer, electronics and optical equipment sector climbed 13.5%.

Domestic sales of the industrial sector fell 0.5%, although manufacturing sales edged up 0.3%.

Order stock in parts of the manufacturing sector which KSH tracks was down 3.9% at the end of February from twelve months earlier. New order volume rose 6.5% as new domestic orders were up 4.7% and new export orders rose by 6.8%.

For the period January-September, industrial output rose 3.2% year-on-year.

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