Industrial output edges up 0.3 pc in August

Hungary’s industrial output edged up by an annual 0.3 percent in August, according to a second reading of data released by the Central Statistical Office (KSH) on Monday.

Adjusted for the number of workdays, industrial output was up 2.7 percent.

For the period January-August, industrial output rose by an annual 5.6 percent.

Year-on-year output of the automotive sector, an engine of industrial growth, edged up 2.0 percent in August, slowing sharply from the previous month, KSH said.

Output of the sector, which accounts for about 25 percent of total manufacturing output, had jumped by 34.6 percent year on year in July, albeit from a low base. Output of the computer, electronics and optical equipment sector, which accounts for around 13 percent of manufacturing output, increased by an annual 5.9 percent in August. At the same time, output of food, drink and tobacco products, generating 12 percent of manufacturing output, declined by 3.2 percent.

Export volume of the industrial sector increased by an annual 2.0 percent in August as exports of the automotive sector rose by 13.7 percent and exports of the computer, electronics and optical equipment sector climbed 6.6 percent.

Domestic sales of the industrial sector dropped by 1.3 percent.

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Source: mti