Further increase in production volume for July

Automotive

The Central Statistics Office (KSH) has released statistics on Hungarian industrial output for July, with figures showing a 4.8% increase in production volume year-on-year – numbers which the government is touting as “another encouraging sign” of the country’s emergence from economic recession.

The seasonally-adjusted statistics show a 2.5% increase y.o.y., and the 0.3% rise in production volume from June represents the fifth month-on-month increase in 2013.

While KSH attributed the recent rise to better showings of Hungarian production in export markets and an uptick in vehicle manufacturing, the central government attributed the positive figures in large part to “Measures such as the cutting of red tape and policies aimed at boosting competitiveness, investment and the industry.”

Further, the official statement saw the results as proof that the Government’s aspiration to turn Hungary into a European production hub is about to be fulfilled.”

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