Industrial production increases 5.5%; evidence of turnaround?

Automotive

In September 2013, Hungary’s gross industrial output rose 5.5% compared to the same month of 2012, according to preliminary data released today by the Central Statistics Office (KSH).

The index adjusted by working days grew by 3.1% year-on-year. In the first nine months output remained at the level of the same period of the previous year. The volume of industrial production in September – according to seasonally and working-day adjusted indices – was up month-on-month to 1.8%. 

According to national news service MTI, ING Bank chief analyst András Balatoni said the data show Hungary’s industrial sector is on the cusp of a turnaround, evidenced by improved sentiment as well; Balatoni cited recent reportage of the Purchasing Managers Index (PMI) as over the 50% threshold and growing order stock. He put full-year industrial output growth at 1.5%.

Gergely Suppan of Takarebank attributed the increase to added automotive industry capacity in speaking with MTI. Expansions at the local units of Audi and Daimler could lift industrial output 2% to 2.5% in coming months, he added.

ADVERTISEMENT

Consumer price levels below EU avg in 2020 Analysis

Consumer price levels below EU avg in 2020

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.