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Hungary industrial output growth slows to 10.9% in September, same as prelim

Hungary's twelve-month industrial output rose 10.9% in September, according to both unadjusted and workday-adjusted data, the Central Statistics Office (KSH) said in a second reading on Friday. The figures are the same as the first reading published on November 5.

Hungary's twelve-month industrial output rose 10.9% in September, according to both unadjusted and workday-adjusted data, the Central Statistical Office (KSH) said in a second reading. The figures are the same as the first reading published on November 5.

Growth slowed from an unadjusted 17.7% and a workday-adjusted 15.1% in August in part because of a high base: twelve-month output in September 2009 was the highest in the first nine months of the year, KSH said.

In a month-on-month comparison, output rose a seasonally- and workday-adjusted 0.5% in September after increasing 2.3% in August.

Output climbed 10.2% in January-September from the same period a year earlier.

Unadjusted figures show twelve-month export sales rose 13.0% in September, slowing down from a 22.7% increase in August. Domestic sales rose 3.9%, after climbing 5.4% in August.

According to adjusted figures, exports rose 13.0% in September, following a 19.3% increase in August. Domestic sales rose 4.0% in September, picking up from 3.1% in August.

Twelve-month growth of the manufacturing sector climbed 11% in September. The computer and electronic equipment segment turned out 17.9% more, while the electric equipment segment produced 29.8% less. Output of machinery companies jumped 118.7%, accelerating from a marked rise of 66.4% in August. Drug sector output fell 7.5% after increasing 31.8% in the previous month, and output of the chemicals sector climbed 14.0%. Rubber sector output increased 11.1%, textile output rose 1.0% and output of food and tobacco companies fell 0.5%.

Industrial companies' new order stock was up 19.4% in September from the same month a year earlier. New export orders grew 21% and new domestic orders increased 10.3%. Total orders stock, however, was still down about 2.5%.

Output per employee at businesses with at least five staff rose 13.6% in January-September 2010 from the same period a year earlier, including the effect of a 2.7% drop in headcount. (MTI – Econews)