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New industrial orders up sharply as export contracts rise by a third

New orders of manufacturing companies in Hungary were up a sharp 29.5% in volume terms in July from the same month a year earlier, boosted by expanding export orders, and total export order stock rose in a year-on-year comparison for the first time since November 2008, the Central Statistical Office (KSH) said.

The volume of new export orders rose 33% in July from the same month a year earlier and new domestic orders were up 9.1%.

New orders have risen every month since April in a twelve-month comparison. New export orders started to rise in December and have been up sharply in almost every month but January, when they dropped slightly, and March, when they were flat. New domestic orders were up for the fourth month in a row, although the increase slowed from double-digit rises in May and June. Before that, new domestic orders fell almost very month since April 2008.

Total order stock inched down 0.4% in July from the same month a year earlier, following big drops registered every month since November 2008. Total export order stock climbed 4% in July, marking the first year-on-year rise since the start of the crisis. But domestic orders stock was down 28.7%, albeit the lowest drop since January. Domestic order stock has fallen steadily since April 2009. (MTI – Econews)