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Hungary’s industrial output up 13.4%

Automotive

Hungary’s industrial production rose 13.4% in March, compared to the same month a year earlier, while adjusted for working days, production grew by 10%, according to a second estimate of data by the Central Statistical Office (KSH).

The rise represents growth of 0.6 of a percentage point compared to preliminary data due to the “correction of an especially large error made by a single data supplier,” according to the KSH.

The volume of industrial export sales rose by 12.8% and industrial domestic sales went up by 5.7%. Within export sales in manufacturing, exports of transport equipment, representing 35% of the total, grew by 13.3%. In the manufacture of computer, electronic and optical products (accounting for 15% of manufacturing exports), the export volume increased at an even higher rate than in the previous month, by 19.5%. Within industrial domestic sales, manufacturing was 9.6% higher year-on-year, according to the KSH.

Production grew by 14.1% in manufacturing, which represents a decisive weight (96%), and by 17.7% in mining and quarrying, which has little weight. The output of the energy industry (electricity, gas, steam and air-conditioning supply) declined by 5.2%, the KSH said, while production rose in all 13 subsections of manufacturing.

Total new orders in manufacturing grew by 13.4% in March. The volume of new export orders increased by 14.6%, while that of new domestic orders was up by 5.5%. The volume of the total stock of orders was 1.2% higher than the level of March 2016.

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