Hungary’s Industrial Output Up 5.9% In Oct

  • 7 Dec 2018 8:50 AM
  • Hungary Matters
Hungary’s Industrial Output Up 5.9% In Oct
Hungary’s industrial output rose by an annual 5.9% in October, the Central Statistical Office (KSH) said in a first reading of data.

Adjusted for the number of working days, output increased by 3.3%. For the period January-October, output rose by an annual 3.4%. In a month-on-month comparison, output rose a seasonally and workday-adjusted 2.0%.

A KSH statistician noted that the electronics segment showed robust performance in October. While vehicle manufacturing volume remained below the 5.9% average, it rose again after declining for three months, she added. The unadjusted data were influenced by the fact that there was one more workday in October this year than a year earlier.

Analysts said the October data well exceeded expectations after the 0.6% decline in September. Péter Virovácz of ING Bank predicted industrial output growth between 3.5% and 4% for the full year compared with 4.6% in 2017.

Gergely Suppan of Takarékbank said industrial output growth is supported by the installation of new production capacities as well as the positive industrial sentiment and confidence indices. He forecast industrial output growth of 3.6% in 2018.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

  • Hungary-US Trade Record Broken

    Hungary-US Trade Record Broken

    • 8 Mar 2024 7:45 AM

    Hungarian-American bilateral trade set a new record, exceeding 9 billion dollars last year, while US investments continue to flow into Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said in Washington, DC, noting that the United States is Hungary’s biggest export market outside the European Union.

  • Japan's TDK Announces HUF 3.5 Billion Investment in W Hungary

    Japan's TDK Announces HUF 3.5 Billion Investment in W Hungary

    • 6 Dec 2023 7:03 AM

    Appliances and electronics company TDK Hungary Components is investing 3.5 billion forints (EUR 9.2m), which comes with a 1.5 billion forint government grant, at a plant in Szombathely, in western Hungary, the company announced.

  • Hungary & Germany Are 'Most Natural Allies' in Competitiveness, Declares Orbán

    Hungary & Germany Are 'Most Natural Allies' in Competitiveness, Declares Orbán

    • 21 Aug 2023 9:13 AM

    German businesses know very well how important Hungarian factories, skilled workers and engineers are to the global success of German brands from vehicle production to the defence industry, Prime Minister Viktor Orbán said at the inauguration of Rheinmetall Hungary’s plant in Zalaegerszeg.

  • Hungary Seals Nuclear Cooperation Deal with Japan

    Hungary Seals Nuclear Cooperation Deal with Japan

    • 27 Jul 2023 9:18 AM

    Hungary and Japan have sealed an agreement on nuclear industrial cooperation aimed at ensuring that nuclear energy remains a key part of both countries' energy policies, the minister of foreign affairs and trade said in Tokyo.

Enjoy more

business CHANNEL SPONSOR

Share your story

We're interested in your stories, and photos, related to expat life in Hungary. Your contributions, and Press Releases, are invited for review before publication in the loop.