Hungarian Central Statistical Office confirms industrial output up 4 pc in June

Hungarian industrial output in June rose by an annual 4 percent after growth of 8.8 percent in May, the Central Statistical Office (KSH) said in a second reading of the data on Friday.

Adjusted for the number of workdays during the period, output increased by 6.5 percent.

In a month-on-month comparison, industrial output fell by 1.2 percent in June, adjusted for seasonal effects and the number of working days. In May the monthly increase was 2.1 percent.

István Lepsényi, economy ministry state secretary for economic development and regulations, told public news channel M1 that manufacturing grew by 3.9 percent compared to the same period of last year and this had a decisive effect on industrial output. Industrial exports grew by 4.6 percent and domestic sales by 2.6 percent, he added.

The June figures show that after an unusually long period of growth, vehicle manufacturing eased, but outstanding performance was registered in the machine industry, electronics and the rubber industry which is linked to vehicle manufacturing.

He noted that nearly 13 percent growth was registered in the pharmaceuticals industry.

Lepsényi said that industrial growth is expected to be above 5 percent this year, in line with Hungary’s convergence plan, and a further boost in industrial output is expected from dynamic growth in construction.

As we wrote before, industrial producer prices rose by 1.5 percent in June from the same month a year earlier.

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Source: MTI