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Hungary: Industrial production rises in July

Hungarian industrial gross output increased, working days rose year-on-year in July the Central Statistical Office (KSH) reported Friday.

On a monthly basis, volume of industrial production grows seasonally and working day adjusted 1.4% in July. During the first seven months of the year, production climbed 8.9%. Exports sales grew 16.9% during the first seven months of the year, compared to the same period of previous year. On a yearly basis, it grew 24.6%. Volume of exports of manufacture of electrical and optical equipment was up by 36.2%, which represented nearly four tenths of the export of manufacturing. Volume increased 19.1% for transport equipments.

During January to July, domestic sales climbed 0.9% on year and 1.8% in July. Meanwhile, manufacturing output in July soared 13.3%. The official data showed that the volume of mining and quarrying fell by 18.6%. The output of electricity, gas and water supply was higher by 1%. New orders in the manufacturing sector increased 38.4% on year in July following a fall in June. At the same time, volume of new export orders grew 56.1%, while that of new domestic orders declined significantly, by 18%. Volume of total stock of orders was up by 10.3%.

The labor productivity of industrial enterprises having 5 or more employees grew 9.8% in the first seven months of the year than in the same period of 2006. But, number of employees dropped 0.7%. During the period from January to July, industrial production rose in every region of Hungary compared to the same period of the previous year. Central Transdanubia recorded biggest increase of 16.2%. (