New vehicle manufacturing sector capacity puts brakes on industrial output decline
New automotive sector capacity slowed the decline of Hungary's industrial output in March, detailed data published by the Central Statistics Office (KSH) on Wednesday show.
The data show output of the motor vehicle segment rose 6.0% year-on-year in March, probably lifted by added capacity at German carmakers Daimler and Opel. At the same time, output of the computer, electronics and optical segment dropped 8.1%, and output of the pharmaceuticals segment plunged 20.0%. Output of the rubber and plastics segment fell 5.6%, output of the chemicals segment edged down 0.6% and food sector output declined 3.9%. Output of the energy segment was down 1.1%.
Headline output fell 2.9% in March – as in the first reading of the data published on May 7 – slowing from a 5.3% drop in February.
Adjusted for the number of workdays, output edged down 0.7% in March, after falling 1.0% in February.
In a seasonally- and workday-adjusted month-on-month comparison, output rose 0.4% in February, accelerating from a 0.1% increase in February.
Domestic sales fell 2.7% and export sales were down 1.7%.
Manufacturing sector order stock was up 10.7% in March from a year earlier, on the back of a single big order, but new order stock fell 24.3%. New export orders dropped 26% and new domestic orders were down 7.9%.
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