Automotive sector output up 10% in February
Vehicle manufacturing output in Hungary rose 10% year-on-year in February, beating the overall increase in industrial output, state news wire MTI reports, citing a detailed release of data by the Central Statistical Office (KSH).
The automotive segment accounts for about 31% of manufacturing sector output in Hungary.
Manufacturing itself accounted for 95% of industrial output.
Output of the computer, electronics and optical equipment segment, which makes up 11% of manufacturing, rose 11.4%.Output of the food, drink and tobacco products segment, which makes up 10pc of manufacturing, climbed 5.4%.
KSH confirmed in the second reading that headline industrial output rose 5.9% year-on-year in February according to both unadjusted and workday-adjusted data.
In a month-on-month comparison, industrial output was up a seasonally- and work day-adjusted 1.0%.
Automotive industry exports up 12.5%
Industrial export volume rose 7.7% year-on-year in February. Exports of vehicle manufacturing jumped 12.5%, while exports of the computer, electronics and optical equipment segment increased 12.2%.
Domestic sales were up 3.8%, with domestic sales of the manufacturing sector increasing 7.6%.
Order stock in parts of the manufacturing sector which KSH tracks were up 8% at the end of February from twelve months earlier. New order volume rose 5.5% as new domestic orders climbed 6.4pc and new export orders were up 5.4%.
In January-February 2019 industrial output was up 5.2% compared to the same period a year earlier. During the same time export sales were up 7.2% and domestic sales were up 6.3%.
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