Automotive manufacturing output fell 15.1% y.o.y. in Nov

Automotive

Automotive manufacturing output, the most significant segment of Hungary's industrial sector, fell 15.1% year-on-year in November, declining at a slower pace than in the previous three months, according to a detailed reading of data released by the Central Statistical Office (KSH).

Hit by production shutdowns and scale-backs because of the global semiconductor shortage, the automotive segment, which accounts for close to one-quarter of the manufacturing sector, has weighed on headline industrial output, contributing to declines in September and October.

In November, however, headline output rose 2.6% year-on-year, KSH confirmed.

Adjusted for the number of workdays, output increased by 2.1%. In a month-on-month comparison, output climbed a seasonally- and workday-adjusted 2.9%. For January-November, output rose 9.9% year-on-year.

The detailed November data shows the production of the computer, electronics, and optical equipment segment, accounting for 12% of manufacturing, edged down 2.1% year-on-year in November, also impacted by the chip shortage, KSH said.

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