Output of Hungary's industrial sector rose 8.2% year-on-year in September, a first reading of data released by the Central Statistical Office (KSH) on Wednesday shows.
Output rose at the same pace when adjusted for the number of workdays. Output was lifted by the automotive industry, the computer, electronics and optical products segment, and production of electrical equipment, while food, drinks and tobacco production fell, KSH said.
In a month-on-month comparison, output edged up a seasonally- and workday-adjusted 0.9%. In January-September, industrial output rose 4.0% year-on-year.
Output rose (8.2% year-on-year in September) at the same pace when adjusted for the number of workdays.
KSH will release detailed data for the month on November 13. In a comment, Erste Bank chief analyst Orsolya Nyeste called the fresh data a "positive surprise", beating analysts' consensus for 6% growth. She said output could have been boosted by new automotive industry capacity in Debrecen and Kecskemét – home to the local manufacturing bases of BMW and Mercedes-Benz, respectively – as well as by a plant turning out products related to AI investments.
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