Industrial output in March up 10.6% y.o.y.

Automotive

Figures released by the Central Statistics Office (KSH) today indicate that in March 2014, industrial gross output in Hungary increased 10.6% year-on-year, with vehicle and transport equipment manufacture playing particularly key roles in the upswing.

With adjustment for workdays, the increase was 8.1% y.o.y. For the first quarter of 2014, KSH figured that output increased 8.4% year-on-year. The month-on-month increase for industrial output in March was 0.4%.

According to KSH, industrial export sales rose 11.9% y.o.y. for Q1 and by 14.7% in March. In the month, transport equipment exports jumped 26% over March 2013.

Vehicle manufacturing output increased a reported 28.3% y.o.y. in March; output in computer/electronics manufacturing was up 1.6%, the first observed increase since March 2011, and buoyed the 20% rise in consumer electronics. Other notable increases were seen in chemical production (up 26.4% y.o.y.) and pharmaceutical production (up 25.1%).

While industrial sales on the domestic market declined by 3.0% y.o.y. in Q1 and 3.2% in March, domestic sales in manufacture were 6.4% y.o.y. for the month.

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