Industrial production increased by 58.8% y.o.y. in April
In April 2021, the volume of industrial production exceeded by 58.8% the extremely low base level of April 2020 according to data by the Central Statistical Office (KSH).
The low base last year was caused by coronavirus pandemic-related lockdown restrictions.
Based on working-day adjusted data production rose by 59.2% year-on-year.
Production volume slightly surpassed the pre-pandemic, April 2019 level, KSH notes.
Almost all manufacturing subsections contributed to the significant growth. The manufacture of transport equipment representing the largest weight increased outstandingly, mainly due to the low base value caused by factory shutdowns in April of the previous year. The manufacture of computer, electronic and optical products and the manufacture of food products, beverages, and tobacco rose at a rate below the industrial average.
According to seasonally and working-day adjusted data industrial output was 3.2% lower than in March 2021.
In the first four months of the year, production was 13.8% higher than in the same period of 2020.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.