Automotive sector keeps industrial output from declining in July

Automotive

Hungary's industrial output stagnated in July compared to the same month a year earlier as an increase of output in the automotive sector countered a decline in communications equipment manufacturing, a second reading of data for the period published by the Central Statistics Office (KSH) on Friday shows.

The stagnation -- the same as that published in the first reading of the data on September 7 -- came after a 0.6% increase in June.
The data show output of motor vehicle manufacturing jumped 16.8% in July, while output of communications equipment manufacturing dropped by 16.9%.
Hungary's automotive sector output was lifted by German carmaker Daimler's recently opened plant in Kecskemét. The contraction in communications equipment manufacturing may have been due in part to Finnish handset maker Nokia's move of production from Hungary to Asia.

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

Operative corps for economic recovery decides on further mea... Government

Operative corps for economic recovery decides on further mea...

Healthcare Roadshow Highlights Innovation, Screening Awarene... Interview

Healthcare Roadshow Highlights Innovation, Screening Awarene...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.