Hungary's industrial output rebounds in April 2013.

By bne IntelliNews June 17, 2013

Hungary's industrial output increased by 5.3% y/y in April 2013 on the back of a significant rise in the manufacture of transport equipment, the statistics office said confirming the preliminary figures, published on June 7. The output reversed to an annual growth after declining in the previous seven months.

In workday-adjusted terms production was up by 2.9% y/y. When adjusted for seasonal effects, industrial production advanced by 1.2% m/m in April.

In unadjusted terms, industrial export sales increased by 14.2% y/y in April, which was mainly due to a 22.6% y/y rise in the transport equipment segment, which represented nearly a third of the manufacturing exports. In addition, the exports of computer, electronic and optical products, which accounted for almost one-sixth of the manufacturing exports grew 7.4% y/y in April, after declining for the past two years. The growth could be attributed to the low base effect, the statistical office noted.

On the other hand, domestic sales declined for the third consecutive month in April, down 1.8% y/y.

Overall, the output of the manufacturing increased by 6.3% y/y in April, which more than offset a 17.6% annual fall in the mining and quarrying as well as 3% y/y decrease in the energy sector.

In aggregate terms, industrial output was still down 1.2% y/y in January to April 2013.

Total new orders in manufacturing advanced by 10.2% y/y in April, pushed up by a 11.1% y/y rise in the volume of new export orders and a 4.5% y/y increase in domestic orders. The total stock of orders was up by 9.9% y/y as of end-April.

Related Articles

Hungarian opposition parties seek explanation for secret admission of asylum seekers

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

Hungarian president sets date for parliamentary election

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

Hungarian government backtracks from collecting fines from opposition parties before election

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