Industrial production increased by 4.0%
In November 2018, the volume of industrial output grew by 4.0% year-on-year. Based on working-day adjusted data production rose by 3.5%.
In November 2018:
The volume of industrial production increased by 4.0% year-on-year. (Compared to the November data of the first estimate, the data in the second estimate did not change.)
Industrial output – according to the seasonally and working-day adjusted index – was below the previous month’s level by 1.1%.
The volume of industrial export grew by 2.8% year-on-year. Within export sales in manufacturing, the 35% representing transport equipment export went up by 4.7%, while in the manufacture of computer, electronic and optical products, accounting for 17% of manufacturing export, the volume rose by 6.6%.
Industrial domestic sales increased by 6.7%, within it, domestic sales in manufacturing were 12.5% higher compared to the same month of the previous year.
Within industry, production grew by 4.0% in the decisive weight (95%) representing manufacturing, and it went up by 37% in the small weight representing mining and quarrying. The output of the energy industry (electricity, gas, steam and air-conditioning supply) declined by 2.2%.
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 the 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 | 108.9 | 108.9 | 116.8 | 106.5 | 75.1 |
| February | 104.0 | 103.9 | 114.5 | 100.7 | 74.8 | |
| March | 98.1 | 98.1 | 103.4 | 96.4 | 74.3 | |
| April | 107.8 | 108.7 | 112.3 | 107.4 | 73.4 | |
| May | 100.7 | 99.8 | 107.5 | 97.1 | 72.8 | |
| June | 104.4 | 103.8 | 107.6 | 102.6 | 73.8 | |
| July | 106.4 | 106.5 | 112.3 | 104.4 | 71.5 | |
| August | 101.6 | 100.1 | 108.3 | 97.1 | 70.5 | |
| September | 98.6 | 96.4 | 106.9 | 92.8 | 71.8 | |
| October | 105.9 | 106.4 | 116.4 | 102.9 | 71.8 | |
| November | 104.0 | 104.5 | 112.5 | 101.6 | 71.8 | |
| From the beginning of the year | 103.5 | 103.2 | 110.6 | 100.7 | 72.8 | |
The manufacture of transport equipment representing 28% of manufacturing output increased by 3.3% year-on-year. The manufacture of motor vehicles went up by 5.8%, the manufacture of parts and accessories for motor vehicles increased by 1.2%. The higher performance level of the transport industry is also reflected in its orders indicators.
The manufacture of computer, electronic and optical products accounting for 13% of manufacturing grew by 8.4%. Out of the two most significant groups the manufacture of communication equipment rose by 63%, at the same time the manufacture of consumer electronics decreased by 1.5%.
The manufacture of food products, beverages and tobacco products providing 11% of manufacturing went up by 5.8% compared to the same month of the previous year. Out of the groups the processing and preserving meat and the production of meat products representing the largest weight (26%) rose by 6.3%, while the manufacture of beverages, carrying the second largest weight, grew the most, by 19.7%. Decreases were recorded in three groups, out of these the manufacture of other food products dropped at the highest rate, by 1.7%.
Out of the subsections the manufacture of electrical equipment rose to the largest degree, by 14.6% year-on-year, increases were measured in both sales directions.
Production growth continued in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products went up by 13.9%, while the manufacture of basic metals and fabricated metal products grew by 1.3% year-on-year.
The manufacture of coke, and refined petroleum products declined by 0.9%, mainly owing to an unfavourable tendency in export sales.
The decline has been lasting for four months in the manufacture of textiles, wearing apparel, leather and related products, representing the smallest weight: output decreased by 3.1% year-on-year in November, first of all due to a drop in export demand.
The manufacture of machinery and equipment n.e.c accounting for 5.5% of manufacturing fell at the highest rate of 7.1% primarily as a result of a significant decrease in the manufacture of engines and turbines, (except aircraft, vehicle and cycle engines) carrying the largest weight among the classes.
Changes in production in the major subsections of manufacturing, November 2018
(%)
| Subsections | Volume indices of production, corresponding period of the previous year = 100.0 | Share of subsection within manufacturing at current prices | |
|---|---|---|---|
| code | denomination | ||
| CA | Manufacture of food products, beverages and tobacco products | 105.8 | 10.6 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 113.9 | 8.9 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 101.3 | 8.3 |
| CI | Manufacture of computer, electronic and optical products | 108.4 | 13.0 |
| CK | Manufacture of machinery and equipment n.e.c. | 92.9 | 5.5 |
| CL | Manufacture of transport equipment | 103.3 | 27.9 |
Labour productivity, by a 3.4% increase in the number of employees of industrial enterprises with 5 or more employees, was 0.4% higher in November than in the same month of the previous year.
Industrial production grew in every region compared to the same month of previous year. The largest volume growth (9.0%) was recorded in Pest region; we measured volume increases between 0.6 and 8.7% in all the others.
Total new orders volume in the observed subsections of manufacturing rose by 2.8% compared to the November 2017 data. New domestic orders volume grew by 5.5%, new export orders went up by 2.4%. The volume of total stock of orders was above the level of November 2017 by 12.1%.
In January–November 2018, compared to the same period of the previous year:
Industrial production rose by 3.5%. The volume of export sales representing 64% of all sales went up by 1.2%, domestic sales accounting for 36% of all sales grew by 6.7%.
Labour productivity of industrial enterprises with 5 or more employees declined by 0.1% along with a 3.4% increase in the number of employees.
The production fell only in Western Transdanubia, by 0.3%, while in the other regions volume increases between 2.3 and 9.7% were measured.