ADVERTISEMENT

Industrial production volume declines in September

Manufacturing

In September 2021, the volume of industrial production fell by 2.3% year-on-year, according to raw data by the Central Statistical Office (KSH).

Based on working-day adjusted data production declined by 1.7% y.o.y.. According to seasonally and working-day adjusted data industrial output was 0.3% lower than in August 2021.

The production level was similar to the one preceding the pandemic, in September 2019, KSH notes.

Increases were recorded in the majority of the manufacturing subsections, including the manufacture of food products, beverages and tobacco products. However, the manufacture of transport equipment representing the largest weight dropped significantly. Factory shutdowns due to the global shortage in semiconductors contributed primarily to the decline. Output also decreased in the manufacture of computer, electronic and optical products.

In the first nine months of 2021, production was 12.8% higher than in the same period of 2020.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.