Industrial production up 16.5% y.o.y. in March
Image by Pexels
In March 2021, the volume of industrial production exceeded the previous year’s low base level by 16.5%, according to data published by the Central Statistical Office (KSH).
Based on working-day adjusted data production rose by 16.2%.
According to seasonally and working-day adjusted data, industrial output was 0.4% higher than in February 2021.
All manufacturing subsections contributed to the growth. The manufacture of transport equipment representing the largest weight increased outstandingly, mainly due to the low base value caused by temporary factory shutdowns in the same period of the previous year. The manufacture of computer, electronic and optical products and the manufacture of food products, beverages and tobacco rose at a rate below the industrial average.
In the first three months of the year, production was 4% higher than in the same period of the previous year.
Industrial output in March – according to seasonally and working-day adjusted indices – was 0.4% above the level of the previous month, and it rose by 68% compared to the previous year’s nadir, surpassing even the pre-pandemic peak, the statistical agency notes.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.