Industrial production increased by 1.5%
In August 2018 the volume of industrial output grew by 1.5% year-on-year. Based on working-day adjusted data production rose by 4.5%.
In August 2018:
The volume of industrial production increased by 1.5% year-on-year. (Compared to the August data 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 3.8%.
The volume of industrial export declined by 1.3% year-on-year. Within export sales in manufacturing, the 31% representing transport equipment export dropped by 13.2%, however in the manufacture of computer, electronic and optical products, accounting for 17% of manufacturing export, the volume increased by 9.2%.
Industrial domestic sales rose by 7.4%, within this, domestic sales in manufacturing were 8.2% higher compared to the same month of the previous year.
Within industry, production grew by 1.5% in the decisive weight (96%) representing manufacturing, while it went up by 57% in the small weight representing mining and quarrying. The output of the energy industry (electricity, gas, steam and air-conditioning supply) declined by 0.9%.
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 | 104.6 | 104.0 | 102.9 | 104.4 | 74.7 | |
| 2018 | January | 109.0 | 108.9 | 116.8 | 106.5 | 75.1 |
| February | 104.0 | 103.8 | 114.5 | 100.7 | 74.8 | |
| March | 98.1 | 98.1 | 103.4 | 96.3 | 74.3 | |
| April | 107.9 | 108.8 | 112.2 | 107.6 | 73.4 | |
| May | 100.7 | 99.7 | 107.4 | 97.1 | 72.8 | |
| June | 104.3 | 103.8 | 107.6 | 102.5 | 73.8 | |
| July | 106.5 | 106.5 | 112.4 | 104.4 | 71.5 | |
| August | 101.5 | 100.1 | 108.2 | 97.1 | 70.5 | |
| From the beginning of the year | 103.8 | 103.5 | 110.0 | 101.3 | 73.3 | |
The manufacture of transport equipment representing one-quarter of manufacturing output dropped by 6.9% year-on-year. The manufacture of parts and accessories for motor vehicles decreased by 0.9%, whereas the manufacture of motor vehicles fell by 13.1%. The lower performance level of the transport industry is also reflected in its new orders indicators.
The manufacture of computer, electronic and optical products accounting for approximately 13% of manufacturing grew by 11.5%. Out of the two most significant groups the manufacture of communication equipment rose outstandingly by 72%, while the manufacture of consumer electronics declined by 6.2%.
The manufacture of food products, beverages and tobacco products giving more than 12% of manufacturing went up by 3.8% compared to the same month of the previous year, due to an increase in both domestic and export sales. Out of the groups the largest weight (23%) representing one: processing and preserving meat and the production of meat products rose by 3.5%, while the manufacture of tobacco products having the smallest weight grew the most: by 25%. Out of the subsections registering decreases the manufacture of dairy products dropped at the highest rate of 7.0%.
Out of the subsections the manufacture of coke, and refined petroleum products grew the most, by 21% compared to the production level of the previous year; the low base effect also contributed to this result.
Production increase slowed down in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products grew by 9.8%, while the manufacture of basic metals and fabricated metal products went up by 1.1% year-on-year.
Contrary to the previous month’s growth the manufacture of pharmaceutical products and pharmaceutical preparations declined by 7.8%, mainly owing to an unfavourable tendency in export sales.
The manufacture of textiles, wearing apparel, leather and related products representing the smallest weight showed its worst performance for this year as well: the production was 11.8% lower than a year ago.
The decrease continued in the manufacture of machinery and equipment n.e.c accounting for 5.6% of the manufacturing: output fell behind by 12.2% in August year-on-year, primarily as a result of a significant decline in the manufacture of engines and turbines, except aircraft, vehicle and cycle engines having the largest weight among the classes.
Changes in production in the major subsections of manufacturing, August 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 | 103.8 | 12.3 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 109.8 | 9.4 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 101.1 | 8.7 |
| CI | Manufacture of computer, electronic and optical products | 111.5 | 12.6 |
| CK | Manufacture of machinery and equipment n.e.c. | 87.8 | 5.6 |
| CL | Manufacture of transport equipment | 93.1 | 24.8 |
Labour productivity by a 2.8% increase in the number of employees of industrial enterprises with 5 or more employees, was 1.2% lower in August than in the same month of the previous year.
Industrial output fell year-on-year in two regions: in Western Transdanubia (by 9.6%) and in the Northern Great Plain (by 2.3%). The highest growth was observed in Budapest region (11.9%), whereas in the other regions volume increases between 2.1% and 10.5% were measured.
Total new orders volume in the observed subsections of manufacturing declined by 1.3% compared to the August 2017 data. New domestic orders volume dropped by 8.4%, while new export orders decreased by 0.1%. The volume of total stock of orders was above the level of August 2017 by 2.0%.
In January–August 2018, compared to the same period of the previous year:
Industrial production rose by 3.6%. The volume of export sales representing 64% of all sales went up by 1.5%, while that of domestic sales accounting for 36% of all sales grew by 6.3%.
The labour productivity of industrial enterprises with 5 or more employees rose by 0.1% along with a 3.5% increase in the number of employees.
Industrial production rose in every region of Hungary; the largest volume growth was registered in Pest region (9.4%), the lowest in Western Transdanubia (0.1%).