Industrial production increased by 4.1%
In February 2018 the volume of industrial output rose by 4.1% year-on-year. The working day adjusted index was equal to the non-adjusted one. In the first two months of 2018 output grew by 5.4% compared to the same period of the previous year.
In February 2018:
The volume of industrial production increased by 4.1% year-on-year. (Compared to the data of February published in the first estimate, there is no change in the data of the second estimate.)
Industrial output – according to the seasonally and working-day adjusted index – was above the previous month’s level by 0.5%.
The volume of industrial export declined by 0.2% compared to the same month of the previous year. Within export sales in manufacturing, the export of transport equipment representing 37% dropped by 2.1%. In the manufacture of computer, electronic and optical products – the other significant subsection accounting for 14% of manufacturing exports –, export volume increased by 3.2%.
Industrial domestic sales grew by 9.9%, within this, the domestic sales of manufacturing were 13.7% higher year-on-year.
Within industry, production rose by 3.8% in manufacturing representing a decisive weight (95%) and by 72% in mining and quarrying (having little weight). The output of energy industry (electricity, gas, steam and air-conditioning supply) increased by 2.7%.
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 | ||||||
| 2016 | 101.4 | 101.4 | 101.8 | 101.3 | 75.1 | |
| 2017 | 104.9 | 104.4 | 103.5 | 104.7 | 74.6 | |
| 2018 | January | 108.4 | 108.8 | 116.8 | 106.4 | 75.1 |
| February | 103.8 | 103.9 | 113.7 | 101.0 | 74.9 | |
| From the beginning of the year | 106.0 | 106.3 | 115.2 | 103.6 | 75.0 | |
The production of transport equipment representing 31% of manufacturing output rose year-on-year by 2.1%. The manufacture of parts and accessories for motor vehicles went up by 10.6%, whereas the manufacture of motor vehicles fell by 5.7%.
The manufacture of computer, electronic and optical products accounting for 11% of manufacturing grew by 4.0%. Out of the two dominant groups the manufacture of communication equipment went up by 22%, while a bit larger one, the manufacture of consumer electronics increased by 3.2%.
The manufacture of food products, beverages and tobacco products giving almost 10% of manufacturing was 7.6% above the low base level of the previous year’s same month. Out of the groups the largest one, the processing and preserving meat and the production of meat products (representing 27% of the subsection) grew the most by 15.9%, at the same time the manufacture of other food products also containing the manufacture manufacture of cocoa, chocolate and sugar confectionery went up remarkably, by 14.5%, too. The manufacture of prepared animal feeds (the second largest group), showing an increase in January, declined in February by 2.3%.
Out of the subsections the manufacture of rubber and plastics products, and other non-metallic mineral products representing medium weight rose at the highest rate of 18.8%, the manufacture of basic metals and fabricated metal products having similar weight also grew considerably, by 15.3%, due to increases in domestic and export demand in both cases.
The growth continued in manufacture of chemicals and chemical products, output was 10.0% higher year-on-year in February, first of all owing to the manufacture of plastics in primary forms giving two third weight.
The rate of growth slackened in the smaller weight representing manufacture of pharmaceuticals, medicinal chemical and botanical product. Production rose only by 2.3%, year on year, beside a more modest growth of export sales domestic sales also lessened.
The other manufacturing, and repair and installation of machinery and equipment having also a small weight declined by 9.2% year-on-year, mainly as a result of a big drop in export sales of the manufacture of medical and dental instruments and supplies.
The manufacture of machinery and equipment n.e.c accounting for 6.2% of the manufacturing output fell at the highest rate of 11.5%, primarily due to a significant fall in the manufacture of engines and turbines, except aircraft, vehicle and cycle engines, this group representing more than one fifth weight.
Changes in production in the major subsections of manufacturing, February 2018
(%)
| 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 | 107.6 | 9.6 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 118.8 | 8.6 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 115.3 | 8.7 |
| CI | Manufacture of computer, electronic and optical products | 104.0 | 11.0 |
| CK | Manufacture of machinery and equipment n.e.c. | 88.5 | 6.2 |
| CL | Manufacture of transport equipment | 102.1 | 30.8 |
Along with a 3.7% increase in the number of employees, the labour productivity of industrial enterprises with 5 or more employees was 0.1% higher in February than in the same month of the previous year.
Out of the territorial units of Hungary, industrial output declined year-on-year only in one, in Western Transdanubia (by 0.4%). In the other regions, volume increases of 2.7% to 9.3% were recorded, the highest growth was observed in the lesser weight carrying Southern Transdanubia.
Total new orders volume in the observed subsections of manufacturing increased by 6.4% compared to the same month of 2017. New domestic orders volume grew by 8.0%, while new export orders rose by 6.2%. The volume of total stock of orders was below the level of February 2017 by 6.3%.
In January–February 2018, compared to the same period of the previous year:
Industrial production went up by 5.4%. The volume of export sales representing 63% of all sales grew by 2.3%, while that of domestic sales accounting for 37% of all sales rose by 4.9%.
The labour productivity of industrial enterprises with 5 or more employees went up by 1.6% along with a 3.7% increase in the number of employees.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Southern Transdanubia (11.8%), while the lowest in Western Transdanubia (by 2.1%).