Hungary's industrial output rises 6% y/y in Oct 2013, in line with flash estimate.

By bne IntelliNews December 16, 2013

Hungary's industrial output increased by 6% y/y in October 2013, speeding up from a 5.5% y/y rise in the previous month, the statistics office said on December 13 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 6% y/y as well, also speeding up from 3.1% y/y in September. Production adjusted for seasonal effects decreased by 0.5% m/m, following a 1.8% m/m rise the previous month.

In unadjusted terms, industrial export sales grew by 10.8% y/y in October. This was mainly due to a 28.4% y/y growth in the exports of transport equipment segment, which represented nearly a fourth of the manufacturing exports. By contrast, the manufacture of computer, electronic and optical products, which was the second largest subsection of manufacturing exports, declined by 8.2% y/y.

Industrial domestic sales increased by 5.3% y/y in October, faster than the 5% annual rise in the previous month.

Overall, the output of the manufacturing sector increased by 6.7% y/y in October, while the mining and quarrying declined by 6.1% y/y and the energy sector registered a 4.1% y/y drop.

In aggregate terms, the industrial output picked up by 0.7% y/y in the first ten months of 2013.

Total new orders in manufacturing grew by 5.91% y/y in October, pushed up by a 4.6% y/y rise in the volume of new export orders and a 14.2% y/y increase in domestic orders. The total stock of orders was up 23.4% y/y at end-October.

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