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KSH Confirms Industrial Output Up 7.8% in April

By Hungary Today // 2018.06.13.

Industrial output in Hungary rose by an annual 7.8% in April after a 2.4 percent drop in the previous month, the Central Statistical Office (KSH) said in a second reading of monthly industrial data released on Wednesday.

Output increased 2.9 percent in April when adjusted for the number of working days during the period. In a month-on-month comparison, industrial output increased by 0.2 percent in April, adjusted for seasonal effects and the number of working days. In March the monthly decrease was 0.7 percent. Industrial exports were up 8.6 percent in April compared to the same month a year earlier.

Output of Hungary’s automotive sector, a key driver of industry in the country, rose by an annual 7.5 percent in April. Output of the computer, electronics and optical equipment segment increased by 3.6 percent. January-April industrial output increased by an annual 3.8 percent. Industrial exports increased by 1.9 percent and made up 64 percent of industrial sales. Domestic sales of the sector rose by 5.9 percent.

The automotive industry is no longer the sole driver of growth in output, Gyula Pomázi, deputy state secretary for innovation and technology, told public television after the data release. In addition to the automotive industry, another three or four sectors such as electronics and rubber were strong performers, with growth above 20 percent, he said, while there was a double-digit expansion in the chemical industry. Also, health care and the food industry are showing growth potential, he added.

 

via MTI

featured image via 24.hu