Industrial production increased up in May

Manufacturing

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In May 2022, the volume of industrial production in Hungary grew by 9.4% year-on-year, according to data published by the Central Statistical Office (KSH).

Based on working-day adjusted data production rose by 3.4%.

Compared to crude data, the significant difference is due to the fact that there were two more working days in May 2022 than in the same month of the previous year, KSH explains.

According to seasonally and working-day adjusted data industrial output was 1.4% higher than in April 2022.

The majority of the manufacturing subsections contributed to the production growth. The volume of production also grew in the largest weight representing subsections compared to the previous year: the manufacture of transport equipment increased to a lesser degree, the manufacture of computer, electronic and optical products as well as the manufacture of food products, beverages and tobacco products rose to a greater extent, according to the

In the first five months of the year, production was 5.9% higher than in the same period of 2021.

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