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Automotive sector output fell 27.5% y.o.y. in January

Automotive

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The output of Hungary's automotive sector, usually an engine of industrial growth, fell 27.5% year-on-year in January amid a global microchip shortage that forced some carmakers to scale back production, according to a detailed reading of data released by the Central Statistical Office (KSH).

The output of the automotive sector, which accounted for 25% of total manufacturing output in January, contracted after expanding 13.8% in the previous month.

The output of the food, drinks, and tobacco segment , which made up 11% of manufacturing sector output, fell 5%.

The output of the computer, electronics, and optical equipment segment, with a 13% weight in manufacturing, rose 8.6%.

KSH confirmed that headline industrial output fell 6.7% in January, after climbing for several months.

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