Automotive sector output growth slows to 5% in Feb
Output of Hungaryʼs automotive sector, an engine of industrial growth, rose 5% year-on-year in February, decelerating from the previous month, Hungarian news agency MTI reports, citing a second reading of data released by the Central Statistical Office (KSH).
Output growth of the sector, which accounts for about 32% of total manufacturing output, slowed from 10.6% in January.
Output of the computer, electronics and optical equipment sector, which accounts for around 12% of manufacturing output, increased 14.6% year-on-year in February.
Output of food, drink and tobacco products rose 10.6%. The sector generates more than 10% of manufacturing output.
Headline industrial growth was 4.1% year-on-year in February, KSH confirmed.
Adjusted for the number of workdays and the leap year effect, industrial output was up 1.7%.
In a month-on-month comparison, industrial output was up a seasonally- and workday-adjusted 0.2% in February.
Export volume of the industrial sector increased 6.1% year-on-year in February as exports of the automotive sector rose 6% and exports of the computer, electronics and optical equipment sector climbed 13.5%.
Domestic sales of the industrial sector fell 0.5%, although manufacturing sales edged up 0.3%.
Order stock in parts of the manufacturing sector which KSH tracks was down 3.9% at the end of February from twelve months earlier. New order volume rose 6.5% as new domestic orders were up 4.7% and new export orders rose by 6.8%.
For the period January-September, industrial output rose 3.2% year-on-year.
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.