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Automotive industry back on track after slow August

Automotive

The increase of output in Hungary's vehicle manufacturing sector — the engine of growth for the country's industrial output — picked up in September after slowing in August due to reduced production, a second reading of data released by the Central Statistics Office (KSH) today revealed.

The automotive sector saw an output increase of 15.3% y.o.y. in September, as compared to the 4% reported for August, when German carmakers Audi and Opel stopped production — the former for three weeks — and Magyar Suzuki reduced the number of shifts.

Output of the computer, electronics and optical equipment segments, accounted for another large chunk of the industrial sector, which boosted by 6.8%, and the output of food companies climbed by 5.8%. Total industrial output rose 7.6% year-on-year in September, KSH confirmed. The work-day adjusted index rose 5.2% from a year earlier.

Industrial output rose by a seasonally- and workday-adjusted 2.7% in a month-on-month comparison. Overall, domestic sales were up by 2.0% and export sales rose by 8.0%. Industrial output rose by 8.6% in January-September.

 

 

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