According to the release of the Hungarian Central Statistical Office (KSH) published earlier this morning, workday-adjusted industrial production increased by 0.6 percent in September 2012 compared to the corresponding period of the previous year. In comparison to August seasonally and workday-adjusted data signal that output volume was up by 0.7 percent. On the basis of adjusted statistics, production contracted by 3.8 percent, which figure has been significantly influenced by workday effect.

Among sectors of the national economy, manufacturing industry output declined by 4.3 percent, whereas that of mining and quarrying, a relatively less significant sector, was down by 7.6 percent. Energy industry output, however, increased by 0.6 percent in September 2012 compared to the level of one year ago.

Within the manufacturing industry there were four sub sectors where output was higher: among significant sub sectors transport equipment manufacturing production expanded by 2.7 percent and that of food, beverages and tobacco products declined by 0.5 percent. The 23.4 percent decline of the manufacturing output of computer, electronic and optical products was the greatest negative contributing factor to the unfavourable industrial production performance. It has been a favourable development, however, that according to statistics out of sub sectors of median importance output at coke and refined petroleum product manufacturing increased dynamically by 8.1 percent.

Analyzing sales, industrial exports declined by 3.6 percent in September 2012, which was the consequence of the 6.8 percent increase of transport equipment manufacturing exports and the 24 percent decline of exports concerning computer, electronic and optical product manufacturing. Domestic sales were down by 6 percent in September 2012 compared to the level of one year ago. It has been a positive signal on the other hand that the number of total orders was up by 2.1 percent in comparison to the basis one year ago.

(Ministry for National Economy)