Hungary’s industrial sector output falls due to struggling battery manufacturing sector

Output of Hungary’s industrial sector edged down 0.2pc in October, a detailed release of data by the Central Statistics Office (KSH) on Friday shows.

The detailed data show output of the automotive industry, Hungary’s biggest manufacturing sector, fell 3.9pc year-on-year in October. The segment accounted for 26pc of manufacturing output during the month.

Output of the computer, electronics and optical equipment segment, accounting for 11.0pc of manufacturing, rose 16.3pc. Output of the electrical equipment segment, which made up 9.4pc of manufacturing output, fell 16.9pc. Output of the food, drinks and tobacco segment, which made up 13pc of manufacturing sector output, climbed 2.7pc.

Adjusted for the number of workdays, headline output was down 3.1pc. In a month-on-month comparison, output was up 2.0pc, on a seasonally- and workday-adjusted basis.

According to Forbes, despite the Hungarian government’s allegations, the output of the Hungarian industry does not keep falling because of the struggling German economy but due to the malaise of the battery industry.

Construction sector output slips 0.5pc in October

Output of Hungary’s construction sector edged down 0.5pc year-on-year in October, data released by the Central Statistics Office (KSH) on Friday show. Output of the buildings segment fell 5.7pc but civil engineering output climbed 7.5pc. In absolute terms, construction sector output reached HUF 679bn in October. The buildings segment accounted for 57pc of the total.

In a month-on-month comparison, construction sector output rose 4.6pc, adjusted for seasonal and workday effects. Order stock was 31.8pc higher at the end of October than twelve months earlier. Buildings segment orders inched down 2.2pc but civil engineering orders jumped 66.0pc.

New orders dropped 44.2pc during the period. New orders in the buildings segment were down 34.5pc and new civil engineering orders fell 53.4pc. For the period January-October, construction sector output edged up 0.7pc from the same period a year earlier.

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