KSH: Slowing of Hungary’s industrial output confirmed

Telco

Hungary’s Central Statistics Office (KSH) confirmed today in a second reading of data that industrial output in Hungary slowed to year-on-year rise of 1.5% in May, significantly lower than the previous month’s 6.3% increase.

According to KSH, the figure slowed due to two fewer workdays in the base period. However, adjusted for the difference in the number of workdays, growth edged down to 6.2% in May from 6.3% in April, KSH said.

KSH data suggest that industrial export sales rose by 4.1% compared to the same period of the previous year. Out of the two manufacturing subsections accounting for more than half of export sales, the export of transport equipment, representing 37% of manufacturing exports, increased by 8.6%, KSH said.

Industrial domestic sales fell by 5.8%, within this the domestic sales of manufacturing practically stagnated (-0.1%), the office said, adding that total new orders in the observed branches of manufacturing grew by 13% compared to the same month of the previous year. The volume of new domestic orders rose by 7.9%, while that of new export orders increased by 13%, according to KSH, while the volume of total stock of orders was above the level of May 2014 by 13%.

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