Hungary industrial output down 6.9 pc in May

The output of Hungary’s industrial sector fell by 6.9 percent year-on-year in May, 4.6 percent when adjusted for the number of workdays, the Central Statistical Office (KSH) said on Thursday.

In Hungary, month on month, output rose by a seasonally and workday-adjusted 1.6 percent.

The detailed data show that output declined year on year in the majority of manufacturing branches but increased in vehicle manufacturing and the electrical equipment sector.

The output of vehicle manufacturing, Hungary’s biggest manufacturing sector, rose by an annual 10.5 percent in May. The segment accounted for 26 percent of manufacturing output during the month. The electrical equipment segment, which made up 12 percent of manufacturing output, grew by 13.4 percent year-on-year. Output of the computer, electronics and optical equipment segment, accounting for 9 percent of manufacturing, fell by 6.9 percent, albeit at a slower pace than in April. Output of the food, drinks and tobacco segment, which made up 12 percent of manufacturing output, declined by 16.7 percent.

Export sales edged up 0.3 percent, KSH said.

In the January-May period, output fell by 4.8 percent year on year.

Source: MTI