Electronics, telecommunications segments weigh on industrial output

Automotive

A downturn among Hungarian makers of electronics and telecommunications equipment continued to weigh on output of the industrial sector in November, a detailed reading of data published by the Central Statistics Office (KSH) on Wednesday shows.

Industrial output fell 6.9% in November from the same month a year earlier, KSH said in a first reading published on January 8. The decline accelerated from a 1.7% year-on-year drop in October.

The detailed data show output of the computer, electronic and optical equipment sector plunged 26.1% in November. Within the sector, output of electronic components was down 44.1% and output of communications equipment fell 24.1%.

Output of the automotive sector rose 10.3%, helped by German carmaker Daimler's new plant in Kecskemet. In a regional breakdown of the data, the effect of the plant is more clearly seen: industrial output in Bács-Kiskun County, where Kecskemét is the county seat, jumped 53.3% in November.

Output of the machinery and equipment sector edged down 0.9%.

Industrial sales fell a workday-adjusted 8.1% year-on-year in November. Domestic sales were down 11.9% and export sales dropped 4.9%.

In a month-on-month comparison, industrial output edged down a seasonally- and workday-adjusted 0.1% in November. Sales dropped 1.6% as domestic sales fell 2.8% and export sales slipped 0.3%.

Stock of manufacturing sector orders climbed 48.6% in November from the same month a year earlier. New order stock was up 45.7% as new domestic orders fell 18.5%, but new export orders rose 55%. The sharp rise reflects one big export order for a longer period, KSH said.

Manufacturing sector productivity fell 3.6% during the period.

Unadjusted industrial output dropped 1.5% in January-November from the same period a year earlier. Sales were down 1.8p as domestic sales dropped 3.7% and export sales edged down 0.2%. Output of Hungary's industrial sector rose 5.6% in 2011.

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