Hungary's April industrial output down by 3.1% y/y - revised data.

By bne IntelliNews June 18, 2012
Hungary's industrial output declined for the second consecutive month in April 2012 falling by 3.1% y/y in non-adjusted terms, following a 1.6% drop in March, revised data of the statistics office showed, confirming the preliminary figures. The index dropped at the same pace in workday-adjusted terms and when excluding the effect of seasonal and workday factors, it declined by 2.4% m/m, after edging up by 0.6% m/m in March 2012. In unadjusted terms, industrial export sales fell by 3.4% y/y after growing in the previous 9 months. Domestic sales also contracted but at the slower rate of 1.5% y/y, compared to a fall of 7.6% y/y in the March 2012. Among the top performing export branches, the manufacturing of computer, electronic and optical products shrank by 18.9% y/y. This was only partly offset by a 8.6% y/y increase in the manufacturing of transport equipment. The decline in domestic sales resulted from negative performance in manufacturing, which was down by 5.8% y/y. Total new orders in April increased by 5.9% y/y, which was due to a 7.4% y/y increase in the volume of new export orders. By contrast, new domestic orders were down 3.6% y/y. The total stock of orders expanded by 29.3% y/y as of end-April 2012.
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