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Hungary January industrial output growth picks up to 13.4%

Hungary's industrial output growth accelerated to an unadjusted 13.4% and a workday-adjusted 10.7% in the twelve months to January, the Central Statistical Office (KSH) said.

The figures were slightly under the 13.6% and 10.9% rise published in the first reading on March 8.

January output picked up from an unadjusted 8.5% and a workday-adjusted 6.0% in December.

In a seasonally- and workday-adjusted month-on-month comparison, industrial output rose 15.3% in January after a sharp 13.3% drop in December. The fall in output in December was probably due to a Saturday that was an official workday but which many people used as a holiday.

Hungary's industrial output rose 10.5% in 2010 after dropping 11.8% in 2009.

Unadjusted industrial export sales climbed 18.6% in January from the same month a year earlier, picking up from a 12.5% increase in December. Export sales were up 15.9% in a workday-adjusted comparison.

In a seasonally- and workday-adjusted month-on-month comparison, export sales were up 7.9% in January after a 7.8% fall in December.

Unadjusted twelve-month domestic sales fell 9.7% in January, after dropping 2.2% in December. Domestic sales slipped 11.2% in a workday-adjusted comparison.

In a seasonally- and workday-adjusted month-on-month comparison, domestic sales fell 3.2% in January after edging down 0.8% in December.

In a breakdown by market segment, KSH said output of the manufacturing sector rose 14.8% in January 2011 from the same month a year earlier. Output of the computer, electronic and optical products segment rose 21.2%, while output of the vehicle manufacturing segment increased 16.2%. Output of the food, beverages and tobacco segment rose 4.4%. Above-average increases were seen in the mining segment (49.8%), the textile and leather segment (26.4%), the rubber, plastic and non-metallic minerals segment (15.3%), metal processing (22.3%) and in machine and equipment manufacturing (55.7%).

Exports of the computer, electronics and optical segment rose 21.1% and exports of the vehicle manufacturing segment were up 14.6% in a year-on-year comparison. The two segments of the manufacturing sector accounted for more than half of industrial exports.