Automotive sector stalls, weighing on industrial output
The output of automotive companies, Hungary's biggest manufacturing segment, fell 13.3% year-on-year in March, causing an increase in headline industrial output to slow, a detailed release of data by the Central Statistical Office (KSH) shows.
The automotive segment, which accounted for 22% of manufacturing sector output in March, continued to be challenged by the semiconductor shortage and supply chain problems, KSH said.
The detailed data show that the output of the computer, electronics, and optical equipment segment, accounting for 11% of manufacturing, increased 6.3% year-on-year.
Output of the food, drinks, and tobacco segment, which also made up 11% of manufacturing sector output, climbed 10.2%.
KSH confirmed that headline industrial output grew 3.6%, slowing from 4.8% in the previous month.
Adjusted for the number of workdays, output climbed 4.2%.
In a month-on-month comparison, output edged down a seasonally- and workday-adjusted 0.1%.
For the period January-March, industrial output rose 5.5% from the same period a year earlier.
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