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Industrial output climbs 8.4% in February

Hungary's twelve-month industrial output rose 8.4% in February, according to both unadjusted and workday-adjusted data published in a second reading by the Central Statistics Office (KSH) on Wednesday. Both figures are unchanged from the first reading published on April 7.

Exports climbed an unadjusted 15.5%, but domestic sales dropped 8.7% in February from the same month a year earlier. The figures were the same when adjusted for the number of work days.

In absolute terms, gross output reached 1,559 billion in February at current prices. Export sales came to HUF 994 billion and domestic sales were HUF 966 billion.

Unadjusted output rose for the third month in a row in February after an uninterrupted twelve-month decline between October 2008 and November 2009. Workday-adjusted output rose for the second time since July 2008. The rises came from a low base.

In a month-on-month comparison, industrial output fell 1.7% in February, according to seasonally- and workday-adjusted data. Export sales inched down 0.5% and domestic sales fell 1.2%.

In a sector-by-sector breakdown, KSH said output of the manufacturing segment rose 21.5% in February from the same month a year earlier. The machinery and equipment sector expanded 29.9%, the electrical equipment sector grew 35.2% and output of the country's vehicle makers jumped 40.4%.

In the manufacturing sector, total order stock was down 13.9% from the same month a year earlier, but new orders were up 14.7%. New export orders rose 20.5% but new domestic orders fell 14.5%.

Output per employee at businesses with at least five staff rose 17.7% in the twelve months to February, including the effect of a 9.6% drop in headcount. (MTI-ECONEWS)