Automotive Industry Output Surges 18% in July

Output of the automotive industry, Hungary's biggest manufacturing sector, climbed 18.0% year-on-year in July, a detailed reading of data released by the Central Statistical Office (KSH) on Tuesday shows.

The automotive segment accounted for 27% of manufacturing output during the month.

Output of the computer, electronics and optical equipment segment, which accounted for 15% of manufacturing, climbed 19.7%, boosted by production of peripherals.

Output of the food, drinks and tobacco products segment, making up 13% of manufacturing, slipped 2.3%.

Output of the electrical equipment segment, accounting for 8.0% of manufacturing, dropped 6.0%.

KSH confirmed that headline industrial output rose 4.7% year-on-year in July.

Output rose at the same pace when adjusted for the number of workdays.

In a month-on-month comparison, output edged up a seasonally- and workday-adjusted 1.7%.

In January-July, industrial output rose 2.7%.