Hungary automotive industry engine for growth through 2013

Construction

Automotive companies remain the engine of growth for the country's industrial sector, detailed data published by the Central Statistics Office (KSH) today show: Specifically, output of the automotive segment jumped 51.2% year-on-year in December, supporting a 6.8% increase in headline industrial output growth. Carmakers Audi, Daimler, Opel and Suzuki have all stepped up production or added capacity at their local plants in Hungary in the past 12 months.

Output of the food segment climbed 6.0% y.o.y. but output of the computer, electronic and optical equipment segment fell 14.5%.

Output growth accelerated from 3.8% in November, albeit from a low base. In December 2012, output fell 7.3%.

Domestic sales fell 2.0% y.o.y. but export sales were up 12.9%.

Adjusted for the number of workdays, output was up 4.4% for 2013.

In a month-on-month comparison, seasonally- and workday-adjusted output fell 1.9%.

For the full year, industrial output was up 1.4% y.o.y. Domestic sales fell 1.8% but export sales increased 4.9%.

Output of the automotive segment rose 19.1% while output of the computer, electronics and optical segment was down 12.3%. Food segment output slipped 0.8%, pharmaceutical companies turned out 8.0% less and energy output dropped 7.7%. Output of the chemicals segment was up 6.4%.

KSH reported that new order stock in the manufacturing sector was up a sharp 84.9% in December from the same month a year earlier. New export orders climbed 93.4% on the back of a single big order, while domestic orders increased 24.2%. Total order stock was up 12.8% from a year earlier.

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