Hungary’s industry output down 3.7 pc in September

Budapest, November 14 (MTI) – Hungary’s overall industrial output was down by an annual 3.7 percent in September after a 10.8 percent increase in August, the Central Statistical Office (KSH) said in a second reading of September data released on Monday.

Output of Hungary’s automotive sector, a key driver of industry in the country, dropped by 0.6 percent in September from the same month a year earlier after growing by 16.5 percent in August, KSH said.

The workday-adjusted index showed that industrial output was down by 3.7 percent in September from a year earlier, compared to a 3.2 percent increase in the previous month.

In a month-on-month comparison, industrial output fell by 3 percent in September, adjusted for seasonal effects and the number of workdays. In August, output grew by an adjusted 1.2 percent month-on-month.

Industrial exports were down by 3.4 percent in September compared to the same month a year earlier, including a 3.7 percent fall in manufacturing sector exports. Domestic sales were down by 5 percent with sales in manufacturing decreasing by 3.6 percent.

January-September industrial output increased by 1.5 percent compared to the same period last year. Industrial exports rose by 1.4 percent and made up 66 percent of the sales.

Source: MTI