In August 2013 – in light of both unadjusted and workday-adjusted data – the volume of construction sector output increased significantly, by 14.6 percent, in comparison to the corresponding period of the previous year.
According to the press release of the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM), the seasonally adjusted Purchasing Manager Index (PMI) increased to 54.5 points in September. This figure is 2.7 percentage points higher than that of August, which signals a significant improvement in the outlook of manufacturing sector enterprises.
Employment increased further in Hungary: in June-August 2013, 67 thousand more people were in employment compared to the corresponding period of the previous year. The number of people in employment aged 15-74 years hit a historic high of 3 million 981 thousand. This figure is 1.7 percent higher than that of the same period of 2012, while the employment rate improved to 52.2 percent among those aged 15-74 years.
In light of data by the Hungarian Central Statistical Office (KSH), the positive trend of increasing real wages – in place since the beginning of the year – is continuing. In January-July 2013, average gross and net wages were up year-on-year by 3.2 percent and 4.6 percent, respectively, within the national economy.
In July 2013, industrial output gained 4.8 percent in comparison to the corresponding period of 2012. This figure places Hungary as the fifth best on the growth ranking of the EU 28. The success of the Hungarian economy depends largely on the success of the productive sector, and that is why the Government of Hungary has been pursuing a proactive industrial policy ever since it took office. The Government measures aimed at boosting competitiveness, investment and industrial production have contributed to the excellent data in July, through which Hungary belongs to the top performers within the European Union.
The tourism sector continues to be characterized by excellent data: the number of tourism nights, which has been rising steadily since May on an annual basis, was up again in July.
The latest data of the Hungarian Central Statistical Office (KSH) point to investment growth within the Hungarian economy, which was last seen before the onset of the crisis, in 2007. In comparison to the corresponding period of the previous year, expansion was 4.6 percent in Q1 2013, which exceeds even the figure of 2.6 percent registered in the fourth quarter of 2007.
Favourable labour market tendencies within the Hungarian economy are continuing. On an annual basis, the number of people in employment has been rising steadily since the second half of 2010.
According to the latest data compiled by the Hungarian Central Statistical Office (KSH), in July 2013 consumer prices were 1.8 percent higher compared to the level of July 2012. Muted consumer price inflation growth was primarily attributable to the cut in household energy prices.
According to preliminary data by the Hungarian Central Statistical Office (KSH), in the second quarter of 2013 the Hungarian economy expanded by 0.5 percent in comparison to the corresponding period of the previous year.