Industrial output in Hungary fell by an annual 2.3 percent in September, and the output of automotive manufacturers, the biggest segment of Hungary’s industrial sector, dropped by an annual 25.9 percent as the global chip shortage impacted the local automotive industry, a detailed reading of data released by the Central Statistical Office (KSH) on Friday shows.
The decline in output of automotive industry companies, which accounted for 23 percent of total manufacturing output in September, slowed from a drop of 34.1 percent in August.
Output of the computer, electronics and optical equipment segment, accounting for 12 percent of manufacturing, slipped 11.4 percent in September.
Output of the food, drinks and tobacco segment, which made of 13 percent of manufacturing sector output, increased by 11.1 percent.
Adjusted for the number of work days, headline industrial output dropped by 1.7 percent.
Month on month, output edged down a seasonally and working day-adjusted 0.3 percent.
Featured photo illustration by Csaba Krizsán/MTI