KSH: Industry output growth slows in December
Output growth of Hungary's automotive industry, which is considered an engine of growth for the country’s entire industrial sector, slowed to a year-on-year 11% in December from the previous month’s approximate 19%, a second reading of data released by the Central Statistics Office (KSH) revealed today. KSH speculates the slowdown to be due to shutdowns during the holiday season.
Output of the computer, electronics and optical equipment segment, another important segment in the country’s industrial sector, increased by 12.1% in December, KSH said. Industrial output on the whole rose by an unadjusted y.o.y. 7.1% in December, KSH said, confirming data published in a first reading released on February 6. Adjusted for the number of workdays, output was up by 4.6%.
Domestic sales rose by 0.9% year-on-year and export sales climbed 11.1% in December.
According to both seasonally- and workday-adjusted data, industry output dropped by a month-on-month 1.7%.
Regarding the full year, industrial output saw a rise of an unadjusted 7.6%, domestic sales were up by 1.1% and export sales increased by 9.8%. Output of the vehicle manufacturing segment grew by 20.7% for the full year.
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