October industrial output down 3.4 percent

Industrial output in Hungary dropped by an annual 3.4 percent in October, according to a second reading of data published by the Central Statistical Office (KSH) on Tuesday.

Output fell by 2.7 percent, based on data adjusted for the number of working days.

Month on month, it was 0.3 percent higher, according to seasonally and working day-adjusted data.

The car sector, Hungary’s biggest manufacturing component, saw a 29.8 percent fall in output on the back of the global chip shortage, while output of computers, electronics and optical equipment shrank by 10.7 percent.

Output of the food, drinks and tobacco segment, which made of 12 percent of manufacturing sector output, increased by 10.0 percent.

Headline industrial output fell by 3.4 percent in October, dropping for the second month in a row.

For the period January-October, output increased by an annual 10.8 percent.

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