Hungary’s industrial production up 6.2% in August

KSH said that industrial export sales saw a y.o.y. rise of 9%, with the export of transport equipment, representing more than one third of manufacturing exports, growing by 17%. “In the manufacture of computer, electronic and optical products – the other significant subsection providing more than 15% of manufacturing exports – the export volume rose by 2.2%,” KSH said.

Data by KSH suggest that industrial domestic sales saw a y.o.y. rise of 2.5%, with domestic sales of manufacturing growing by 7.5%.

“Of the sections of industry, the production of manufacturing increased by 7.1% compared to August 2014, while that of mining and quarrying (having little weight) fell by 24%. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose by 4.9%,” KSH said.

The manufacture of food products, beverages and tobacco products, ranking second in manufacturing and accounting for 13%, saw an increase of 4.2%, while that of computer, electronic and optical products (having the third greatest weight, and representing almost one eighth of manufacturing) rose by 1.2%, KSH said.

The manufacture of chemicals and chemical products, having medium weight, grew at the highest rate among the subsections at 28%, first of all due to low base effect, while the manufacture of pharmaceuticals, medicinal chemicals and botanical products, having smaller weight, declined for the first time this year (by 9.3%), primarily as a result of a significant drop in export demand, KSH added.

“The manufacture of machinery and equipment n.e.c., having medium weight, dropped at the highest rate (13%) year-on-year among the subsections, first of all due to a fall in the class of the manufacture of engines and turbines, except aircraft, vehicle and cycle engines, which has the greatest weight (42%) within the subsection,” KSH reported.