Automotive sector output up 81.1% y.o.y. in May
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The output of Hungary's automotive sector, which accounts for the biggest share of manufacturing in the country, rose 81.1% year-on-year in May, albeit from a low base when car makers were still impacted by pandemic shutdowns, according to a detailed reading of data released by the Central Statistical Office (KSH).
Growth in the sector, which accounted for 26% of total manufacturing output in May, slowed from a 342.5% increase in April. The output of the computer, electronics, and optical equipment segment, with a 10% weight in manufacturing, rose 23.8% in May. Production of the food, drinks, and tobacco segment, which made up 11% of manufacturing sector output, increased 14.7%.
KSH confirmed that headline industrial output rose 39.1% year-on-year in May. Adjusted for workday effects, industrial output rose 40.2%. In a month-on-month comparison, output i ncreased a seasonally- and workday-adjusted 3.4%.
Industrial sales increased 32.3% year-on-year as domestic sales climbed 25%, and export sales rose 37%. Order stock in segments of the manufacturing sector tracked by KSH was up 11.7% at the end of May from 12 months earlier. New order volume increased 53.4% as new domestic orders grew 41.3% and new export orders were up 56%.
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