Photo: mercedes-benz.hu

Industrial output grows by 2.6 percent in August

Industrial output in Hungary rose by an annual 2.6 percent in August, the Central Statistical Office (KSH) said on Wednesday.

Adjusted for the number of working days, output edged up by 0.6 percent, staying slightly above the output in 2019, the second reading of data showed.

Month on month, output fell 2.7 percent based on seasonally and working day-adjusted data.

Output of vehicle manufacturing fell by an annual 33.7 percent in August as the global semiconductor shortage impacted factories. The decline in output of automotive industry companies, which accounted for 17 percent of total manufacturing output in August, accelerated from a 6.7 percent drop in July.

Output of the computer, electronics and optical equipment segment, accounting for 12 percent of manufacturing, slipped 3.7 percent in August.

The volume of industrial exports edged up 0.2 percent.

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