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Industrial output up adjusted 12.2% yr/yr in July

Hungary's industrial output rose both an unadjusted and a working-day adjusted 12.2% year-on-year in volume terms in July, the Central Statistics Office (KSH) reported on Friday. July output was up 1.1% from June according to seasonally- and working day-adjusted figures. Output rose by 10.5% year-on-year in January-July 2006, unadjusted figures show. Per capita industrial production or industrial productivity increased 13% year-on-year among businesses employing at least 5 workers in the first seven month of the year, taking into account a 2% reduction in headcount. Manufacturing sector productivity rose 13.3% compared to January-July 2005. Hungary's industrial output rose 7.3% in 2005. Domestic sales volume increased 4.4% and export sales increased 11.1% from 2004. Of Hungary's seven regions, production fell in one region alone, in Southern Transdanubia, by 5.6%, in the first seven months of the year. The biggest volume increase during the period was registered in Northern Hungary (18.4%). July exports of electric machinery and instruments, which account for more than one-third of all manufacturing industry exports, was slightly down in volume terms from one year earlier, the first year-on-year drop in several years. The 0.6% decline in the sector's exports was due to decreasing exports by the light fixtures and other electric products branch, KSH said.

The other major sector of manufacturing industry exports, vehicle production, which makes up more than one-quarter of manufacturing industry exports, saw, in contrast, its exports rise 32.1%. Vehicle manufacturing, which generates close to 20% of manufacturing industry output, increased production by 31.2%. Production of metal raw materials and metal processing products rose 22.4%, primarily due to increased production of iron, steel and aluminium. Production of machines and equipment increased 17.7% and rubber and plastic products rose 17.5% in volume terms. Production of electric machinery, which accounts for 27% of manufacturing industry output, rose 11.7%. Production of food, beverages and tobacco products was up a slight 2.4%, and textile industry output fell 2.1%, making it the only manufacturing branch to contract during the period. (Mti-Eco)