KSH confirms 2.7% industrial output growth in February

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Hungary’s industrial output rose by 2.7% in February, compared to the same month a year earlier, the Central Statistical Office (KSH) confirmed today in a second estimate. In January-February, industrial production rose 4.5% compared to the corresponding period of 2016.

Adjusted for working days, industrial production grew by 7.0%, the significant difference between crude and adjusted data primarily caused by last year’s leap-day effect, the KSH noted.

Industrial output in February – according to the seasonally and working day-adjusted index – was above the level of the previous month by 3.4%, the KSH added. 

The volume of industrial export sales rose by 2.2% compared to the same period of the previous year, while industrial domestic sales decreased by 1.1%, according to the KSH.

Of the sections of industry, production grew by 2.7% in manufacturing (representing a decisive weight of 95%), and by 6.2% in mining and quarrying (carrying little weight), the KSH reported, adding that the output of the energy industry (electricity, gas, steam and air-conditioning supply) dropped by 1.7%.

In the January-February period, industrial production rose by 4.5% compared to the corresponding period of the previous year. The volume of export sales (representing 64% of all sales) grew by 5.2%, while that of domestic sales (accounting for 36% of all sales) increased by 3.2%.

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