Automotive Industry Output up 23.5% in March
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The output of the automotive industry, Hungary's biggest manufacturing sector, rose 23.5% year-on-year in March, according to a detailed data release by the Central Statistical Office (KSH) on Friday.
Growth of the segment, which accounted for 26% of manufacturing output, picked up from 7.2% in the previous month.
The detailed data shows the output of the electrical equipment segment, which made up 11% of manufacturing production, climbed 23.1% year-on-year in March.
The output of the computer, electronics and optical equipment sector, accounting for 9% of manufacturing, fell 13.8%. The production of the food, drinks and tobacco segment, which made up 12% of the manufacturing sector output, slipped 13.3%.
KSH confirmed that headline industrial output fell 4.1% year-on-year in March, slowing from a 4.6% decline in the previous month. Output fell 4% when adjusted for the number of workdays.
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