Automotive Industry Output up 58% y.o.y. in August

Automotive

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The output of the automotive industry, Hungary's most significant manufacturing sector, rose 58% year-on-year in August, albeit from a low base hit by shutdowns, according to a detailed release of data by the Central Statistical Office (KSH).

Growth of the segment, which has been challenged by the semiconductor shortage and supply chain problems over the past year, picked up from 16.6% in the previous month.

The automotive segment accounted for 21% of the manufacturing sector output in August.

The detailed data shows the production of the computer, electronics, and optical equipment segment, accounting for 11% of manufacturing, rose 25.6% year-on-year.

Output of the food, drinks, and tobacco segment, which comprised 14% of manufacturing sector output, climbed 13.7%.

KSH confirmed that headline industrial output increased 14.4% in August, expanding at the fastest pace in more than a year.

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