Hungary’s industrial output drops 3.7% in September

Automotive

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The volume of industrial production in Hungary dropped 3.7% in September compared to the same month of 2015, after year-on-year growth of 10.8% in August, shows a first release of data this morning by the Central Statistical Office (KSH). The automotive sector, an engine for Hungary’s industry, fell 0.6% in September, following growth of 16.5% in August.

Industrial output in September, according to seasonally and working-day adjusted indices alike, was 3% below the level of the previous month, according to KSH.

The volume of industrial export sales declined by 3.4% in September, as compared to the same period of the previous year, while industrial domestic sales were down by 5%. 

Looking at the various industrial sectors, production fell by 3.8% in manufacturing representing a decisive weight (96%) and by 3.1% in mining and quarrying (having little weight) compared to the same month a year earlier. The output of the energy industry (electricity, gas, steam and air-conditioning supply) declined by 0.7%. 

Overall in the January-September period, industrial production rose by 1.5% compared to the same period of the previous year, with the volume of export sales, representing 66% of all sales, growing by 1.4%, and that of domestic sales, accounting for 34% of all sales, dropping by 1.6%, according to KSH.

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