Daily News Hungary economy

Budapest, May 5 (MTI) – Hungary’s industrial output rose by an annual 12.8 percent in March, the Central Statistical Office (KSH) said in the first reading of data on Friday.

Adjusted for calendar year effects, output was up by 9.4 percent.

The increases accelerated from unadjusted 2.7 percent and adjusted 7.1 percent readings in February.

In a month-on-month comparison, output edged up 0.4 percent adjusted for both seasonal effects and the number of working days, in March.

An economy ministry official said after the data release that the government industrial development schemes introduced over the past few years had played a large part in the impressive growth rate of industrial output.

Deputy state secretary Gyula Pomazi told public television’s news channel M1 that today’s figures were the best in the past six years. He noted that the vehicle industry, electronics and medical equipment sectors were the main drivers, and investments started over the past year were now bearing fruit.

Addressing the issue of Hungary’s current skills shortage, he said that in order to meet high capacity needs the government had launched various packages of measures, including a digitalisation training programme, whose aim is to maintain higher value-added and advance a more highly trained workforce in Hungary.

Source: MTI/KSH

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