Hungary’s industrial output down 3% in April
Image by Pixabay
Industrial production in Hungary dropped by 3% in April compared to the same month a year earlier, according to raw data, while based on working day-adjusted data, output grew by 2.5%, the Central Statistical Office (KSH) said today in a second estimate of data.
Compared to the data of April published in the first estimate last week, there was no change in the data of the second estimate.
Compared to the preceding month, industrial output dropped by 0.8%, according to the seasonally and working day-adjusted index.
The significant difference between the raw and working day-adjusted year-on-year figures is chiefly due to the fact that there were three fewer working days in April 2017 than a year earlier, the KSH noted.
The volume of industrial export sales declined by 4.8% in April, while industrial domestic sales practically stagnated (+0.1%), according to KSH data.
Total new orders in the observed subsections of manufacturing fell by 8.0% in April. The volume of new export orders decreased by 7.7%, while that of new domestic orders declined by 9.3%, according to the KSH.
In the January-April period, industrial production rose by 4.9%, compared to the first four months of 2016. The volume of export sales (representing 65% of all sales) grew by 4.6%, while that of domestic sales (accounting for 35% of all sales) increased by 3.9%, the KSH added.
A first estimate of May industrial production data is due on July 6.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.