Hungary's industrial output rises 5.5% y/y Sep 2013, in line with flash estimate.

By bne IntelliNews November 18, 2013

Hungary's industrial output increased by 5.5% y/y in September 2013, reversing from a 1.5% annual drop in the previous month, the statistics office said on November 15 confirming the preliminary figures published a week earlier. The manufacturing of transport equipment remained the key driving force.

In workday-adjusted terms, production grew by 3.1% y/y in September, speeding up from 0.8% y/y in August. Production adjusted for seasonal effects increased by 1.8% m/m, following a 0.1% m/m rise the previous month.

In unadjusted terms, industrial export sales grew by 11.8% y/y in September. This was mainly due to a 27.9% y/y growth in the exports of transport equipment segment, which represented nearly a third of the manufacturing exports. By contrast, the manufacture of computer, electronic and optical products, which accounted for more than one-sixth of the manufacturing exports, declined by 3.2% y/y.

Industrial domestic sales advanced by 5% y/y in September, following a 6.1 % annual decrease in the previous month.

Overall, the output of the manufacturing sector increased by 6.3% y/y in September, while the mining and quarrying shrank by 18.4% y/y and the energy sector registered a 4.9% y/y drop.

In aggregate terms, the industrial output remained unchanged y/y in January to September 2013.

Total new orders in manufacturing grew by 31% y/y in September, pushed up by a 30.6% y/y rise in the volume of new export orders and 34.3% y/y increased in domestic orders. The total stock of orders was up 24.6% y/y at end-September.

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