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 owners take back ownership of leading e-retailer

The two Hungarian businessmen with minority stakes in Extreme Digital, Hungary's leading electronics retailer, have purchased back 50.4% of its shares from South African company Steinhoff ... more

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Lufthansa's arrival lifts economy of Hungary's second city

Three large German companies have chosen to invest in Debrecen, Hungary's second-largest city, since Lufthansa launched its first direct flight two years ago, it was announced on April 11.  ... ... more