Industrial production increased by 0.6% in November
In November 2016, the volume of industrial output grew by 0.6% year-on-year. The index adjusted for working days was equal to the non-adjusted one. In the first eleven months of 2016, industrial output rose by 1.0%.
In November 2016:
The volume of industrial production increased by 0.6% year-on-year. (Compared to the data of November published in the first estimate, there was no change in the data of the second estimate.)
Industrial output in November – according to seasonally and working-day adjusted indices – was above the level of the previous month by 0.9%.
The volume of industrial export sales rose by 0.4% compared to the same period of the previous year. Out of the two manufacturing subsections accounting for more than half of export sales, the export of transport equipment, representing 37% of manufacturing exports, declined by 2.2%. However, in the manufacture of computer, electronic and optical products – the other significant subsection giving 17% of manufacturing exports –, the export volume increased by 11.8%.
Industrial domestic sales grew by 1.7%, within this, the domestic sales of manufacturing were 2.6% higher year-on-year.
Out of the sections of industry, production rose by 1.6% in manufacturing representing a decisive weight (95%) and fell by 24% in mining and quarrying (having little weight) compared to November 2015. The output of energy industry (electricity, gas, steam and air-conditioning supply) declined by 8.1%, due to a significant fall in export demand for trade of gas through mains, as well as a decline in the domestic sales of electric power generation, transmission and distribution.
Changes in the production and sales of manufacturing
(%)
| Period | Production | Total | Domestic | Export | Share of export in sales at current prices, % | |
|---|---|---|---|---|---|---|
| sales | ||||||
| Volume index, corresponding period of previous year = 100.0 | ||||||
| 2014 | 108.7 | 108.5 | 104.5 | 110.1 | 73.5 | |
| 2015 | 108.0 | 108.2 | 106.7 | 108.7 | 74.9 | |
| 2016 | January | 100.1 | 100.7 | 98.2 | 101.5 | 77.2 |
| February | 107.4 | 109.2 | 108.1 | 109.5 | 77.3 | |
| March | 94.6 | 94.9 | 97.2 | 94.2 | 76.2 | |
| April | 105.5 | 105.8 | 104.7 | 106.2 | 75.8 | |
| May | 109.7 | 108.8 | 111.0 | 108.1 | 74.9 | |
| June | 99.9 | 99.2 | 100.7 | 98.8 | 75.6 | |
| July | 95.5 | 95.4 | 95.7 | 95.3 | 74.2 | |
| August | 111.9 | 111.7 | 112.5 | 111.4 | 73.0 | |
| September | 96.2 | 96.6 | 96.4 | 96.7 | 75.5 | |
| October | 98.6 | 96.9 | 94.9 | 97.6 | 75.2 | |
| November | 101.6 | 102.7 | 102.6 | 102.8 | 74.6 | |
| From the beginning of the year | 101.6 | 101.6 | 101.7 | 101.6 | 75.4 | |
Increases were observed (1.4–10.6%) in eight of the thirteen subsections of manufacturing, stagnation was measured in one, while volume decreases of 0.9% to 6.0% were measured in the other subsections compared to the same month of the previous year.
Out of subsections with a significant weight, the production of transport equipment representing 30% of the manufacturing output declined by 2.5% Out of the two major groups – giving a combined share of 97% in the output of the subsection – the manufacture of motor vehicles dropped by 6.2%, at the same time the manufacture of parts and accessories for motor vehicles rose by 2.0%.
The manufacture of computer, electronic and optical products having the second greatest weight (giving 13.2% in manufacturing) grew at the highest rate of 10.6% year-on-year among the subsections. Out of the two dominant groups, the larger one, the manufacture of consumer electronics rose by 4.4%, while the smaller one, the manufacture of communication equipment went up by 17.6%. The manufacture of electronic components and boards dramatically increased by 44%.
The manufacture of food products, beverages and tobacco products ranked third in manufacturing (accounting for 11% of manufacturing) rose year-on-year by 4.7%. Volume increases of 5.2% to 30% were measured in six of the ten groups of the subsection, while decreases of 5.6% to 39% were recorded in the other four. The largest group (representing 26% of the subsection), the processing and preserving of meat and the production of meat products went up by 10.3%, and the manufacture of prepared animal feeds rose the most year-on-year, by 30%.
The growth continued in the manufacture of electrical equipment and in the manufacture of pharmaceuticals, medicinal chemical and botanical products having smaller weight: the output of the former grew by 3.8% and that of the latter by 7.0%.
In contrast to the decrease in the previous month, there was growth in three sub-sections having medium weight, too: the manufacture of basic metals and fabricated metal products rose by 2.8%, the manufacture of chemicals and chemical products went up by 1.8% and the manufacture of rubber and plastics products, and other non-metallic mineral products increased by 1.4% year-on-year.
The manufacture of textiles, wearing apparel, leather and related products having the smallest weight dropped at the highest rate of 6% among the subsections, due to a fall in export demand.
Significant subsections of manufacturing, November 2016
(%)
| Subsections | Volume indices of production, corresponding period of previous year = 100.0 | Share of subsection within manufacturing at current prices, % | |
|---|---|---|---|
| code | denomination | ||
| CA | Manufacture of food products, beverages and tobacco products | 104.7 | 11.0 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 101.4 | 7.8 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 102.8 | 7.3 |
| CI | Manufacture of computer, electronic and optical products | 110.6 | 13.2 |
| CK | Manufacture of machinery and equipment n.e.c. | 96.1 | 6.3 |
| CL | Manufacture of transport equipment | 97.5 | 29.9 |
Total new orders in the observed subsections of manufacturing grew by 9.2% compared to the same month of 2015. The volume of new domestic orders decreased by 4.6%, while that of new export orders rose by 11.2%. The volume of total stock of orders was above the level of November 2015 by 8.7%.
In January– November 2016, compared to the same period of the previous year:
Industrial production rose by 1.0%. The volume of export sales representing 65% of all sales grew by 0.8%, while that of domestic sales accounting for 35% of all sales dropped by 1.7%.
Industrial production grew along with a greater, 2.7% increase in the number of employees, therefore the labour productivity of industrial enterprises with 5 or more employees decreased by 1.2%.
Out of the territorial units of Hungary, industrial production declined in three regions – in Western Transdanubia (3.8%), Central Hungary (3.7%), as well as in Northern Great Plain (2.3%) – compared to the same period of 2015. In the other four regions, volume increases of 1.7% to 15.1% were recorded, the highest growth was observed in Southern Transdanubia.