Industrial production up 8% y.o.y. in July
Image by Pixabay
In July 2021, the volume of industrial production grew by 8% compared to July 2020, according to data by the Central Statistical Office (KSH).
Based on working-day adjusted data production rose by 10.2%. According to seasonally and working-day adjusted data industrial output was 0.5% lower than in June 2021.
The production level was similar to that before the pandemic in July 2019, KSH notes.
The majority of the manufacturing subsections contributed to the growth, however, the manufacture of transport equipment representing the largest weight declined. This is mainly due to factory shutdowns, as well as one-shift work schedule.
Output also decreased in the manufacture of computer, electronic and optical products, while the manufacture of food products rose slightly.
In the first seven months of the year, production was 17.1% higher than in the same period of the previous year.
Industrial output in July – according to seasonally and working-day adjusted indices – was 0.5% below the level of the previous month, KSH notes.
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.