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Hungarian industrial output growth remains unchanged in November

Source FxWire Pro Tuesday, 14 Jan, 2020 13:10:31 GMT
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The Hungarian industrial output grew 3.6 percent year-on-year in November, the same as in the prior month, showed the Hungarian Central Statistical Office. On working-day adjusted data, production rose 5.7 percent.

The volume of industrial export rose 1.9 percent year-on-year. Transport equipment export, which accounts for 35 percent of export sales in manufacturing, fell 0.3 percent. Meanwhile, export in manufacture of computer, electronic and optical products, which account for an 18 percent weight, rose 12 percent. Industrial domestic sales rose 1.7 percent, within it domestic sales in manufacturing came in 2.6 percent up year-on-year.

Within the industry, production, which accounts of 96 percent of weight in manufacturing, grew 4.2 percent. Meanwhile, mining and quarrying saw a fall of 4 percent, whereas the energy industry recorded a fall of 0.8 percent.

The pace of growth eased in manufacture of transport equipment. The output surpassed the production level of the previous year by 4 percent in November. The volume of motor vehicles produced rose 1.5 percent, while the manufacture of parts and accessories for motor vehicles rose 5.5 percent. Manufacture of consumer electronics rose 28 percent, while the manufacture of communication equipment rose 0.7 percent.

The manufacture of food products, beverages and tobacco products rose 4.5 percent year-on-year. Meanwhile, the manufacture of rubber and plastics products, and other non-metallic mineral products rose 2 percent. The production of basic metals and fabricated metal products fell 1.9 percent. The manufacture of electrical equipment rose 17.6 percent year-on-year, driven by domestic and export sales.

Source: FxWire Pro
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