Are you sure?

Industrial output growth accelerates to 13.7% in May

Hungary's industrial output rose 13.7% in May from the same month a year earlier, according to both unadjusted and a workday-adjusted figures, picking up from 9.7% in April, the Central Statistical Office (KSH) said in a second reading.

The May figures were the same as the preliminary ones published on July 7.

In a month-on-month comparison, seasonally- and workday-adjusted industrial output was up 5.4%, also level with the preliminary figure.

Output of the manufacturing sector rose 15.3% in May from the same month a year earlier, accelerating from a 10.7% increase in the previous month. Vehicle industry output also rose 15.3%. Output of the computer, electronics and optical products sector was up 27.8%, but output of electronic equipment was down 4.4%. Machinery sector output jumped 40.0% in May, though slowing from a 45.5% increase in the previous month. Rubber and plastics output was up 8.9% and chemicals output climbed 34.8%. Energy sector output was up 3.4%. Output of the food industry as well as the textile industry were practically unchanged.

Sales of the industrial sector rose 11.5% in May from the same month a year earlier. Export sales climbed 18.8% and domestic sales rose 4.1%, the latter increasing for the first time since September 2008.

Export sales of the manufacturing sector rose 18.7% and export sales of the automotive sector increased 18.4%. Machinery sector exports jumped 55.9% and exports of computers, electronics and optical products were up 25.0%. Chemical exports climbed 24.6%.

Domestic sales of the manufacturing sector climbed 3.1% in May, rising for the first time since September 2008. Domestic sales of the automotive sector were up 3.2% and energy sector sales increased 5.6%, rising for the second month in a row after 15 straight months of declines. Food industry sales in Hungary were down 4.3%, but textile industry sales were up 3.9%.

New order stock of Hungary's main manufacturing sectors jumped 40.6% in May from the same month a year earlier. New export orders climbed 43.7% and new domestic orders increased 22.8%. New orders in the vehicle manufacturing sector jumped 59.8% and new machinery orders shot up 71.5%. New orders for chemicals climbed 19.9% and new orders for drugs were up 37.3%. New order stock in the electric equipment segment increased 35.6% and new orders for computers, electronics and optical products rose 35.0%.

Total order stock of Hungary's main manufacturing sectors was down 11.2% in May from the same month a year earlier. Vehicle industry orders were down 11.9%, orders for computers, electronics and optical equipment fell 21.1% and electric equipment orders plunged 48.2%. But machinery order stock was up 24.0%, orders for drugs climbed 43.7% and textile orders were up a sharp 201.6%.

Productivity at industrial companies employing five or more staff rose 14.8% in January-May from the same period a year earlier, adjusted for the effect of a 6.2% reduction in headcount. (MTI – Econews)