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KSH: Hungary’s industrial production up 3.4% in July

Pharma

Industrial production in Hungary saw a year-on-year rise of 3.4% in July, with the index adjusted for working days being equal to the non-adjusted index, while output grew by 6.7% in the first seven months of 2015, Hungary’s Central Statistical Office (KSH) said in a second release of data today.

Hungarian news agency MTI noted that the automotive sector continued to be the chief engine of growth in Hungaryʼs industrial production, with output of the sector growing by a year-on-year 15.3% in July, however, slowing from a y.o.y. rise of 21.2% in June. The headline increase for the industrial sector was 3.4%, KSH confirmed.

According to data from KSH, industrial export sales grew by a year-on-year 4.6%. Out of the two manufacturing subsections accounting for more than half of export sales, the export of transport equipment representing almost 40% of manufacturing exports, increased by 11.9%, KSH said. In the manufacture of computer, electronic and optical products – the other significant subsection providing 13% of manufacturing exports – the export volume declined by 1.8%, KSH data suggest.

Industrial domestic sales grew by 1.5%, within this, the domestic sales of manufacturing were 5.6% higher year-on-year, KSH noted.

With regards to the various sections of industry,  production in manufacturing increased by  a year-on-year 4.3%, while that of mining and quarrying (having little weight) fell by 6.8%. The output of the energy industry (electricity, gas, steam and air-conditioning supply) remained unchanged, KSH added.

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