Hungary's industrial output increased by 11.3% y/y in June 2014, easing from the 10.1% growth in the previous month, the statistics office said on August 13 confirming the preliminary figures published a week earlier. The growth was driven by expanding transport equipment and food sectors.
In workday-adjusted terms, production also grew by 11.3% y/y in June but adjusted for seasonal effects it went down by 1.8% m/m.
The manufacturing sector expanded by an annual 12.9% in June, supported mainly by a 23.5% rise in vehicle production, a 1.4% hike in computer and electronics production and a 14.6% rise in food production. By contrast, the mining and quarrying sector posted a 4.1% y/y fall in production in June and the energy sector registered an 8.1% y/y drop.
Industrial export sales jumped by 15.1% y/y in June, mainly supported by a 24.4% y/y growth in transport equipment exports, which represented more than a third of the manufacturing sales abroad. In addition, the computer, electronic and optical products sector, which accounted for a seventh of the manufacturing exports, grew by 1.2% y/y.
Industrial domestic sales were 8.4% higher on the year in June, pushed up by a 11% y/y rise in manufacturing sales.
New manufacturing orders grew by 17.7% y/y in June, reflecting an 18.6% y/y rise in the volume of new export orders and an 11.7% y/y increase in domestic orders. The total stock of orders was up 20.4% y/y at end-June.
In aggregate terms, the industrial output increased by 9.4% y/y in the first half of 2014.
Hungary's industrial output increased by 1.4% y/y 2013, recovering from a 1.8% y/y drop in 2012. The improvement was exclusively due to a 4.9% y/y rise in export sales, which more than offset the 1.8% y/y drop in sales on the domestic market.
Despite its all-out attacks on the EU’s refugee quotas, Viktor Orban's government secretly gave permission for the admission of the same number of asylum seekers to the country in 2017 as ... more
President Janos Ader has set April 8 as the date of Hungary's general election, it was announced on January 11. This is the earliest possible Sunday that the ballot can be held under the law. The ... more
The Economy Ministry on January 10 asked the tax authority to delay collecting fines from opposition parties imposed by the state auditor ASZ to ensure that their pre-election budgets and campaign ... more