Hungary's industrial output increased by 12.3% y/y in July 2014, speeding from a 11.3% growth in the previous month, the statistics office said on September 12 confirming the preliminary figures published a week earlier. The growth was driven by the expanding transport equipment and food sectors.
In workday-adjusted terms, production also grew by 12.3% y/y in July and adjusted for seasonal effects it went up by 1.6% m/m.
The manufacturing sector expanded by an annual 13% in July, supported mainly by a 31.9% rise in vehicle production, a 9.9% hike in computer and electronics production and a 6.2% rise in food production. By contrast, the mining and quarrying sector shank by 11.2% y/y in July, while the energy sector registered a 1.3% y/y production rise.
Industrial export sales increased by 15.3% y/y in July, mainly on the back of a 32% 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 11.4% y/y.
Industrial domestic sales were 4.8% higher on the year in July, pushed up by a 7.7% y/y rise in manufacturing sales.
New manufacturing orders grew by 17.5% y/y in July, reflecting an 18.3% y/y rise in the volume of new export orders and a 12.5% y/y increase in domestic orders. The total stock of orders was up 19.2% y/y at end-July
In aggregate terms, the industrial output increased by 9.8% y/y in the first seven months of 2014.
Hungary's industrial output grew 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 a 1.8% y/y drop in sales on the domestic market.
Hungary's Magnus Aircraft is constructing a new manufacturing plant in southern Hungary near the regional Pecs-Pogany airport to meet rising demand for its unique aircraft and plans to finish ... more
Gyorgy Waberer, the former owner of haulage company Waberer, plans to list shares of Budapest logistics terminal BILK on the Budapest Stock Exchange in June, local media reported on May 28. “I ... more
Hungary has reached an agreement with Russian gas giant Gazprom on the volume and price of next year's gas deliveries and negotiations have begun on gas deliveries for 2020, Foreign Minister Peter ... more