Automotive sector slows, industrial output down
The straightforward reportage of preliminary data from KSH begins as follows: “In November 2013 … industrial gross output rose by 3.5% compared to the same month of 2012. The index adjusted by working days grew by 5.8%. Year-on-year, output increased by 0.9% in the first eleven months of the year…”
However, the seemingly good news was tempered by KSH’s own admission that the “increase” month-on-month is illusory when adjusted for season, becoming instead a 0.5% drop.
Worse yet, indications are that November results may indicate a slowing of Hungarian industrial output after growth through most of 2013: Total output declined 1.8% y.o.y. in 2012 for the 11-month period after growing 5.6% in 2011.
KSH deputy department head Milos Schindele explained to national news service MTI that a slowing within the automotive manufacturing sector in turn dropped the overall output numbers and made for a more slight increase y.o.y.
Takarékbank chief analyst Gergely Suppan stated to MTI that the automotive sector “could lift industrial output further in the coming months as the outlook for the vehicle industry improves and new domestic capacity is ramped up.”
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.