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Hungary Industrial Output Falls by 8.1 pc yr/yr in July

MTI-Hungary Today 2020.09.11.

Hungarian industrial output dropped by an annual 8.1 percent in July, according to unadjusted data, the Central Statistical Office (KSH) said on Friday in a second reading of the data.

Based on working day-adjusted data, output in July fell by an annual 7.7 percent.

Output of Hungary’s automotive sector, an engine of industrial growth under normal circumstances, fell by an annual 13.2 percent in July, outpacing the 12.9 percent decline in June. The automotive sector accounted for 29 percent of manufacturing sector output in July.

Output of the computer, electronics and optical equipment segment, which made up 12 percent of manufacturing sector output, rose by an annual 2.3 percent.

Output of food, drink, and tobacco companies eased by 0.3 percent, after edging up in the previous month.