Industrial production increased by 4.0%
In June 2017, the volume of industrial output rose by 4.0% year-on-year. Based on working-day adjusted data, the production grew by 6.5%. Output went up by 5.6% in the first six months of 2017 compared to the same period of the previous year.
In June 2017:
The volume of industrial production increased by 4.0% year-on-year. (Compared to the data of June published in the first estimate, there was no change in the data of the second estimate.)
Industrial output in June – according to the seasonally and working-day adjusted index – was below the level of the previous month by 1.2%.
The volume of industrial export sales rose by 4.6% compared to the same period of the previous year. Within export sales in manufacturing, the exports of transport equipment representing 34% declined by 3.6%. However, in the manufacture of computer, electronic and optical products – accounting for 15% of manufacturing exports –, the export volume also increased by 7.2%.
Industrial domestic sales grew by 2.6%, within this, the domestic sales of manufacturing were 3.6% higher year-on-year.
Out of the sections of industry, production rose by 3.9% in manufacturing representing a decisive weight (96%) and by 17.1% in mining and quarrying having little weight. The output of energy industry (electricity, gas, steam and air-conditioning supply) decreased by 0.4%.
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 | ||||||
| 2015 | 108.0 | 108.2 | 106.7 | 108.7 | 74.9 | |
| 2016 | 101.4 | 101.4 | 101.8 | 101.3 | 75.1 | |
| 2017 | January | 106.8 | 106.4 | 102.4 | 107.6 | 77.0 |
| February | 102.9 | 100.0 | 95.9 | 101.3 | 77.0 | |
| March | 114.3 | 112.4 | 109.5 | 113.3 | 76.0 | |
| April | 96.8 | 95.2 | 96.7 | 94.7 | 74.5 | |
| May | 108.8 | 110.4 | 106.6 | 111.7 | 75.1 | |
| June | 103.9 | 104.0 | 103.6 | 104.2 | 75.2 | |
| From the beginning of the year | 105.5 | 104.7 | 102.5 | 105.4 | 75.7 | |
Production declined in only three of the thirteen subsections of manufacturing and volume increases of 0.9 to 21% were measured in the other subsections compared to the same month of the previous year.
After the increase in May, the production of transport equipment representing 29% of the manufacturing output dropped year-on-year by 1.9%. The manufacture of parts and accessories for motor vehicles went up by 0.9%, at the same time the manufacture of motor vehicles fell by 4.1%.
The manufacture of computer, electronic and optical products accounting for 12% in manufacturing, as well as within this the manufacture of consumer electronics having the largest weight grew at the same rate of 6.9%.
The manufacture of food products, beverages and tobacco products giving one tenth of manufacturing rose by 0.9%. Within this, the largest group (representing 24% of the subsection), the processing and preserving of meat and the production of meat products decreased by 5.6%, while the manufacture of tobacco products grew the most by 10.6% year-on-year. The strongest fall (22%) was measured in the manufacture of vegetable and animal oils and fats.
The manufacture of machinery and equipment n.e.c accounting for 7.9% grew year-on-year the most by 21%, primarily as a result of the outstanding export performance in the class of the manufacture of engines and turbines, except aircraft, vehicle and cycle engines.
The manufacture of basic metals and fabricated metal products also having medium weight grew by 9.8% and the manufacture of rubber and plastics products, and other non-metallic mineral products increased by 5.7%.
The manufacture of pharmaceuticals, medicinal chemical and botanical products representing smaller weight (3.3%) increased by 12.9%, due to a favourable tendency in both domestic and export sales.
The decline has lasted for three months in the manufacture of chemicals and chemical products: the output dropped by 0.3% in June.
Changes in production in the major subsections of manufacturing, June 2017
(%)
| 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 | 100.9 | 10.4 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 105.7 | 8.0 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 109.8 | 7.9 |
| CI | Manufacture of computer, electronic and optical products | 106.9 | 11.9 |
| CK | Manufacture of machinery and equipment n.e.c. | 121.1 | 7.9 |
| CL | Manufacture of transport equipment | 98.1 | 28.7 |
Total new orders in the observed subsections of manufacturing rose by 6.0% compared to the same month of 2016. The volume of new export orders increased by 7.0%, while that of new domestic orders grew by 0.4%. The volume of total stock of orders was below the level of June 2016 by 2.4%.
In January–June 2017, compared to the same period of the previous year:
Industrial production went up by 5.6%. The volume of export sales representing 66% of all sales grew by 5.8%, while that of domestic sales accounting for 34% of all sales increased by 3.8%.
The labour productivity of industrial enterprises with 5 or more employees went up by 2.1% along with a 3.2% increase in the number of employees.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Northern Great Plain (8.3%), while the lowest in Southern Great Plain (3.6%).