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Industrial output growth slows to 0.3% in August

In August 2019, the volume of industrial production in Hungary grew by 0.3% year-on-year, while output rose by 2.7% based on working day-adjusted data, according to a first reading by the Central Statistical Office (KSH) on Monday.

The rate of growth slackened significantly in the automomotive manufacturing sector (representing the largest weight) in August, while it accelerated slightly in the manufacture of computer, electronic and optical products. The manufacture of food products, beverages and tobacco fell.

Output was 5.6% higher in the first eight months of 2019 than in the equivalent period of 2018, the KSH noted.

Industrial output in August, according to seasonally and working day-adjusted indices, was 1.2% below the level of the previous month.

A second, more detailed estimate of industrial output data for August will be published on October 14.