Compared to the data for May in the KSHʼs first estimate, there was no change in the data of the second estimate. Industrial output in May – according to the seasonally and working day-adjusted index – was above the level of the previous month by 2.3%.
The volume of industrial export sales rose by 11.4% compared to the same month of 2016. Within export sales in manufacturing, exports of transport equipment (representing 37% of the total) rose by 13.6%. In the manufacture of computer, electronic and optical products (accounting for 14% of manufacturing exports), the export volume also rose by a significant 12.8%.
Industrial domestic sales grew by 5.4%; within this, domestic sales of manufacturing were 6.5% higher year-on-year.
Of the sections of industry, production grew by 8.8% in manufacturing (representing a decisive weight of 96%) and by 42% in mining and quarrying, carrying little weight. The output of the energy industry (electricity, gas, steam and air-conditioning supply) declined by 3.0%.
The production of transport equipment, representing 30% of manufacturing output, rose year-on-year by 10.7%. There was a higher rate of growth in the manufacture of parts and accessories for motor vehicles (12.3%) than in the manufacture of motor vehicles (8.9%).
The manufacture of computer, electronic and optical products – accounting for an 11% share in manufacturing – grew by 12.6%, within which the manufacture of consumer electronics increased the most, by 26%.
The manufacture of food products, beverages and tobacco products, accounting for one tenth of manufacturing, went up by 4.3%.
In contrast to the decline in the previous month, the manufacture of electrical equipment rose by 9.5%.
Total new orders in the observed subsections of manufacturing rose by 9.8% compared to the same month of 2016. The volume of new export orders increased by 9.6%, while that of new domestic orders grew by 11.1%. The total stock of orders was below the level of May 2016 by 2.1%.
In January–May 2017, compared to the first five months of 2016, industrial production rose by 5.7%. The volume of export sales – representing 65% of all sales – grew by 5.9%, while that of domestic sales – accounting for 35% of all sales – rose by 4.2%.
The labor productivity of industrial enterprises with five or more employees went up by 2.3%, along with a 3.1% increase in the number of employees, according to the KSH.
Industrial production rose in every region of Hungary. The greatest volume growth was measured in the Northern Great Plain (8.1%), while the lowest was recorded in Central Hungary (2.9%).
The KSH is due to publish its first estimate of industrial production data for June 2017 on August 4.
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