How well did the Hungarian industry do in September?

Output of Hungary’s construction sector grew by an annual 14.2 percent in September, quickening from 10.1 percent in the previous month, the Central Statistical Office (KSH) said on Friday.

Output of the building segment increased by 21.2 percent and civil engineering output grew by 6.7 percent.

Month on month, construction sector output rose by 4.2 percent, adjusted for seasonal and working-day effects.

In absolute terms, output was 544.7 billion forints (€ 1.5 billion) in September, with the building segment accounting for 59 percent of the total.

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Despite that, the Industrial output in Hungary fell by an annual 2.3 percent in September, and the output of automotive manufacturers, the biggest segment of Hungary’s industrial sector, dropped by an annual 25.9 percent as the global chip shortage impacted the local automotive industry, a detailed reading of data released by the Central Statistical Office (KSH) on Friday shows.

The decline in output of automotive industry companies, which accounted for 23 percent of total manufacturing output in September, slowed from a drop of 34.1 percent in August.

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Output of the computer, electronics and optical equipment segment, accounting for 12 percent of manufacturing, slipped 11.4 percent in September.

Output of the food, drinks and tobacco segment, which made of 13 percent of manufacturing sector output, increased by 11.1 percent.

Adjusted for the number of workdays, headline industrial output dropped by 1.7 percent.

Month on month, output edged down a seasonally and working day-adjusted 0.3 percent.

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Source: MTI