Automotive sector output up 81.1% y.o.y. in May
Photo by Hamik / Shutterstock
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%.
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.