KSH: Hungary’s industrial output up 10.1% in October

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Industrial output in Hungary saw a year-on-year rise of 10.1% in October, with the index adjusted for working days increasing by 12.7%, Hungary’s Central Statistical Office (KSH) confirmed this morning in a second estimate.

As compared to the previous month, the volume of industrial production – according to seasonally and working-day adjusted indices – was up by 1.7%, while in the first ten months of this year, output was up by a year-on-year 7.1%, KSH said.

Industrial export sales were up by a y.o.y. 14.5% and industrial domestic sales grew by 5.2%, with domestic sales of manufacturing growing 7.1%, KSH data show.

According to KSH, with regard to the sectors of industry, the production of manufacturing grew by 10.5%, and the output of the energy industry was up 11.3% in year-on-year terms, while the output of mining and quarrying dropped by 38%.

Production declined only in two of the thirteen subsections of manufacturing, KSH reported, adding that volume increases of 1.6% to 27% were measured in other subsections in year-on-year terms.

The production of transport equipment, which represents more than three tenths of manufacturing, grew by 27%, while the growth rate in the manufacturing of motor vehicles was up by 34%, KSH said.

Production of computer, electronic and optical products ranked second in manufacturing, and constituting 12% of manufacturing, was up by 12.7%, while that of food products, beverages and tobacco products (having the third greatest weight and accounting for 11% of manufacturing) grew year-on-year by 3.5% due to an 11% recovery in export sales amounting to 43% of all sales, KSH reported.

Total new orders in the observed subsections of manufacturing rose by a year-on-year 20%, with the volume of new domestic orders up by 22%, and new export orders increasing by 20%, KSH said, adding that the volume of total stock of orders was above the level of October 2014 by 11.1%.

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