Export rise, smaller drop in domestic sales bring industrial output up 3% yr/yr in Oct

Hungary’s industrial output rose a calendar-adjusted 3.0% year-on-year in October, the Central Statistics Office (KSH) said on Tuesday as export growth slowed, but domestic sales dropped less than a month ago.

Industrial output added 3.0% yr/yr in September also after edging down 0.4% in August.

Unadjusted output was also up 3.0% year-on-year in October after adding a similar 3.0% in September, and climbing 4.5% in August.

Seasonally- and workday-adjusted output was down 0.9% m/m in October after growing 3.9% in September, and falling 1.2% in August.

All output figures were unchanged from the preliminary figures published on December 7.

Total sales of industry was down 2.3% yr/yr after falling 0.9% in September and loosing 1.7% in August, as domestic sales fell 6.2% yr/yr after dropping 7.1% in September and decreasing 8% yr/yr in August. Total sales dropped in October for the fifth consecutive month, and domestic sales did for the 13th month in a row, calendar-adjusted figures show.

Export sales rose a calendar-adjusted 1.0% yr/yr in October, after rising 4.1% in September, and a 3.5% rise in August. Export’s yr/yr rise was the smallest in October within 22 months.

In a seasonally and workday-adjusted month-on-month comparison total sales fell 0.8% after growing 0.1% in September and dropping 0.2% in August, as domestic sales dropped 3.6% after losing 0.6% in September, and export sales dropped 0.4% after a 0.6% fall in September.

Industrial output rose 5.8% in January-October from the same period a year earlier and total sales grew 1.7% as domestic sales dropped 5.3% and export sales rose 8.1%.