Industrial Output in Hungary Slips 5.4% in November

Output of Hungary's industrial sector fell 5.4% year-on-year in November, the Central Statistical Office (KSH) confirmed in a second reading of data quoted by MTI.

Output fell at the same pace when adjusted for the number of workdays. The detailed data show output of the automotive industry, Hungary's biggest manufacturing sector, fell 4.7%. The segment accounted for 25% of manufacturing output during the month.

Output of the computer, electronics and optical equipment segment, accounting for 13% of manufacturing, rose 7.0%, boosted by production of computers and peripherals. Output of the electrical equipment segment, which made up 9.4% of manufacturing output, dropped 10.7%.

Output of the food, drinks and tobacco segment, generating 14% of the sector's output, rose 1.7%.

In a month-on-month comparison, output slipped a seasonally- and workday-adjusted 2.0%. For the period January-November, output dropped 3.5% year-on-year.

Export sales volume, which accounted for 64% of total sales, declined 2.6% and domestic sales fell 4.6%.

Order stock of manufacturing sector branches that KSH tracks was up 0.7% at the end of November from twelve months earlier. New order volume dropped 3.7% as new domestic orders fell 1.6% and new export orders dipped 4.0%.