Industrial Production Rises in August

Manufacturing

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The volume of industrial production in Hungary grew by 14.4% year-on-year according to raw data, and by 9.3% y.o.y. according to working-day adjusted data in August 2022, the Central Statistical Office (KSH) writes.

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

According to seasonally and working-day adjusted data industrial output was 0.1% higher than in July 2022.

The majority of the manufacturing subsections contributed to the production growth.

The volume of production also grew in the largest weight representing subsections year-on-year: the manufacture of transport equipment increased surpassingly compared to the low base, while the manufacture of computer, electronic and optical products, as well as the manufacture of food products, beverages, and tobacco products, rose significantly, too.

In the first eight months of 2022, production was 6.1% higher than in the same period of 2021.

 

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