Automotive sector output climbed 6.2% y.o.y. in August

Automotive

Output of Hungaryʼs automotive sector climbed 6.2% year-on-year in August, rising for the first time since before the start of the coronavirus crisis, according to detailed industrial output data released by the Central Statistical Office (KSH).

The output of the automotive sector, which accounted for 28% of manufacturing sector output in August, recovered after months of double-digit declines.

The output of the computer, electronics and optical equipment segment, which made up 14% of manufacturing sector output, rose 1.8% year-on-year in August.

The output of food, drink and tobacco products companies, accounting for 13% of manufacturing output, edged up 0.3%.

Headline industrial output fell 2.1%, KSH confirmed, improving from an 8.1% decline in the previous month. Adjusted for workday effects, industrial output edged down 0.2%.

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