Automotive output growth slows to 2% in August


Year-on-year output of Hungaryʼs automotive sector, a major engine of industrial growth, edged up 2.0% in August, slowing sharply from the previous month, shows a second reading of industrial production data from the Central Statistical Office (KSH) issued Monday.   

Output of the automotive sector, which accounts for about 25% of the countryʼs total manufacturing output, had jumped 34.6% year-on-year in July, albeit from a low base, noted state news wire MTI.

In August 2019, the volume of overall industrial output in Hungary grew by 0.3% year-on-year, the KSH confirmed in its second reading, which did not change from the first estimate on October 7. Based on working day-adjusted data, output rose 2.7% in the month.

In a month-on-month comparison, industrial output was down a seasonally and working day-adjusted 1.2% in August.   

Output of the computer, electronics and optical equipment sector, which accounts for around 13% of manufacturing output, increased by 5.9% year-on-year in August.

Output of food, drink and tobacco products declined 3.2%. The sector generates around 12% of manufacturing output.

The export volume of the industrial sector increased 2.0% year-on-year in August as exports of the automotive sector (representing 34% of total export sales) rose 13.7%, while exports of the computer, electronics and optical equipment sector (accounting for 18% of the total) climbed 6.6%.

Industrial domestic sales decreased by 1.3% in August, within which domestic sales in manufacturing were 0.2% higher compared to the same month of the previous year.

The order stock in parts of the manufacturing sector which the KSH tracks fell 6.7% at the end of August from 12 months earlier. The new order volume declined 5.8%, as new domestic orders inched up 0.7%, but new export orders fell 6.9%.

In the period January-August, industrial output rose 5.6% year-on-year compared to the first eight months of 2018. The volume of export sales (representing 63% of all sales) went up by 6.2%, while domestic sales grew by 6.4%.

A first estimate of industrial output data for September 2019 will be released on November 8, with a second, more detailed estimate to follow on November 13.


Gloster H1 Revenue Climbs 24% Figures

Gloster H1 Revenue Climbs 24%

V4 Agri Officials: WTO Case Over Grain Bans 'Unfortunate' Int’l Relations

V4 Agri Officials: WTO Case Over Grain Bans 'Unfortunate'

Lego Invests HUF 54 bln in Expansion in Hungary Manufacturing

Lego Invests HUF 54 bln in Expansion in Hungary

Budapest Muni Council Clears Rác Baths Renovation Tourism

Budapest Muni Council Clears Rác Baths Renovation


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.