Hungary's industrial output up by 10.97% y/y in September.

By bne IntelliNews November 15, 2010
Hungary's industrial output rose by 10.9% y/y in September, slowing down from 17.6% y/y growth the previous month, the statistics office (KSH) reported. An increase in both domestic sales (3.9% y/y) and export sales (13% y/y) contributed for the positive outcome in the month. Higher domestic sales thus continued for a third consecutive month, which was a clear sign for economic recovery. In terms of individual sectors, manufacturing mostly contributed for the industry expansion as its output surged by 7.8% y/y in September. Ten manufacturing branches registered an increase in production on an annual basis in September. The two major branches, electronics and transport equipment, rose by 17.9% y/y and 12% y/y, respectively, thus representing the main driving force behind the overall growth. The total new orders for the industry grew by 19.4% y/y in September, following 21% y/y increase in external orders and a 10.3% y/y - in domestic orders. However, the total stock of orders was 2.5% bellow its level in September 2009.

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