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Automotive Sector Output Growth Accelerates in June

Automotive

Photo by Jasen Wright / Shutterstock.com

The output of the automotive industry, Hungary's biggest manufacturing sector, rose 19.1% year-on-year in June, picking up from a 10.8% growth in the previous month, news agency MTI reports, citing a detailed release of data by the Central Statistical Office (KSH).

The segment accounted for 28% of manufacturing output during the month.

The detailed data show output of the electrical equipment segment, which made up 11% of manufacturing output, climbed 16.9%.

The output of the computer, electronics, and optical equipment segment, accounting for 10% of manufacturing, fell 5.1%, albeit at a slower pace than in May.

The output of the food, drinks and tobacco segment, which made up 12% of the manufacturing sector output, slipped 11.1%.

KSH confirmed that headline industrial output fell 3.8% in June, following a 6.7% decline in the previous month.

Output dropped 6.1% when adjusted for the number of workdays.

In a month-on-month comparison, output fell a seasonally- and workday-adjusted 0.9%.

For the period January-June, output dropped 4.8% year-on-year.

Industrial sales fell 6.5% in June. Export sales climbed 4% but domestic sales dropped 20%.

In absolute terms, industrial sales reached HUF 5.715 trillion. Exports sales accounted for 62.7% of the total.

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