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KSH confirms industrial output rising 4% in June

In June industrial output in Hungary increased by 4%, following a 8.8% growth in May. Output increased 6.5% in June when adjusted for the number of working days during the period, the Central Statistical Office (KSH) said in a second reading of June industrial data released on Friday.

In a month-on-month comparison, industrial output decreased by 1.2% in June, adjusted for seasonal effects and the number of working days. In May the monthly increase was 2.1%.

Industrial exports were up 4.6% in June compared to the same month a year earlier. Manufacturing industry exports were up 4.2%. Domestic sales were up 2.6%, with sales in manufacturing rising by 3.6%.

Output of Hungaryʼs automotive sector, a key driver of industry in the country, fell by 1.9% in June from the same month a year earlier. Within the automotive sector, the production of road vehicles was down, while the output of road vehicle parts was up.

Output in the computer, electronics and optical equipment segment increased by 6.9%, and output of pharmaceutical companies by 12.9%.

Production in the chemicals segment declined 0.3%, while output of food, drink and tobacco companies rose 0.9%.

Production of machines and machinery rose by 21.1%, and oil refining and coke production by 4.1%, while electricity, gas, steam production and air conditioning declined by 0.4%.

The order stock in June was down 2.4% from a year earlier. New orders were up by 6%, as new domestic orders edged up 0.4% and new export orders were up 7%.

January-June industrial output increased by 5.6% compared to the corresponding six months of 2016. Industrial exports rose 5.8% and made up 66% of industrial sales. Domestic sales of the sector rose 3.8%.

Output per head at companies employing at least five workers was up 2.1% in the first six months of the year from a year earlier as the headcount rose 3.2%. Industrial output rose in all regions of the country.

A first estimate of July industrial production data will be published by the KSH on September 6.