Hungary's industrial output rises 8.1% y/y in February 2014, in line with flash estimate

By bne IntelliNews April 15, 2014

Hungary's industrial output increased by 8.1% y/y in February 2014, acceleration from a 6.1% y/y growth in the previous month, the statistics office said on April 14 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 8.1% y/y as well. Production adjusted for seasonal effects advanced by 1.6% m/m in February.

In unadjusted terms, industrial export sales grew by 11.4% y/y in the month, mainly supported by a 26.5% y/y growth in transport equipment exports, which represented nearly a third of the manufacturing sales abroad. By contrast, the computer, electronic and optical products sector, which accounted for a seventh of manufacturing exports, declined by 6.2% y/y.

Industrial domestic sales edged down by 0.5% y/y in February, softening from a 5.5% y/y drop in January.

Overall, the output of the manufacturing sector increased by 9.7% y/y in February, the mining and quarrying expanded by 7.1% y/y, while the energy sector registered a 7.6% y/y drop.

New manufacturing orders grew by 17.3% y/y in February, pushed up by a 16.8% y/y rise in the volume of new export orders and a 20.6% y/y increase in domestic orders. The total stock of orders was up 13.3% y/y at end-February.

Hungary's industrial output increased 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.

Related Articles

Explosion at Austrian gas hub interrupts supplies to Italy, Hungary and Slovenia

An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more

Hungary planning to strike fair deal on INA, says Orban

Hungary is ready to strike a "fair deal to end the poisonous dispute" surrounding MOL and Croatian energy company INA, Hungarian PM Viktor Orban said after he met his Croatian counterpart Andrej ... more

Hungary gets ready for China-CEE “16+1” summit

The Hungarian government will join the China-Central and Eastern Europe Investment Cooperation Fund, a private equity fund organised by the Export-Import Bank of China, by investing €50mn, ... more