Industrial production increased by 0.3%
In August 2019, the volume of industrial output grew by 0.3% year-on-year. Based on working-day adjusted data, production rose by 2.7%.
In August 2019:
The volume of industrial production rose by 0.3% year-on-year. (Compared to the August 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 1.2%.
The volume of industrial export grew by 2.0% year-on-year. Transport equipment export, representing a 34% weight within export sales in manufacturing, went up by 13.7%; the export in manufacture of computer, electronic and optical products accounting for an 18% weight rose by 6.6%.
Industrial domestic sales decreased by 1.3%, within it domestic sales in manufacturing were 0.2% higher compared to the same month of the previous year.
Within industry production grew by 0.2% in the decisive weight (96%) representing manufacturing, while it declined by 0.3% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) fell behind the previous year’s level by 2.5%.
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 | ||||||
| 2017 | 104.6 | 104.0 | 102.9 | 104.4 | 74.7 | |
| 2018 | 103.5 | 103.2 | 109.2 | 101.1 | 72.9 | |
| 2019 | January | 103.7 | 106.1 | 108.2 | 105.3 | 74.6 |
| February | 106.8 | 107.4 | 108.2 | 107.1 | 74.3 | |
| March | 108.0 | 108.3 | 109.4 | 107.8 | 73.6 | |
| April | 106.1 | 105.6 | 111.6 | 103.4 | 71.5 | |
| May | 109.2 | 108.2 | 108.0 | 108.3 | 72.4 | |
| June | 97.7 | 99.6 | 100.8 | 99.2 | 73.0 | |
| July | 112.1 | 113.2 | 116.2 | 111.9 | 70.9 | |
| August | 100.2 | 101.8 | 100.2 | 102.4 | 71.2 | |
| From the beginning of the year | 105.4 | 106.2 | 107.7 | 105.6 | 72.7 | |
The rate of growth slackened remarkably in the largest weight representing manufacture of transport equipment accounting for 25% of manufacturing: output increased by 2.0% only in August compared the same month of the previous year. The moderate growth compared to the July’s one was mainly due to a summer stoppage unlike in 2018. The volume of motor vehicles manufacturing declined by 0.9%, at the same time the manufacture of parts and accessories for motor vehicles rose by 4.5%.
The manufacture of computer, electronic and optical products accounting for more than 13% of manufacturing grew by 5.9%. Out of the two most significant groups the manufacture of consumer electronics went up by 29%, the manufacture of communication equipment rose by 1.7%.
The manufacture of food products, beverages and tobacco products providing more than 12% of manufacturing dropped by 3.2% compared to the same month of the previous year, mainly as a result of an unfavourable tendency in domestic sales; export sales increased. Out of the groups the processing and preserving meat and the production of meat products, representing the largest weight (25%) decreased by 0.2%, while the manufacture of beverages, the second most significant group fell by 8.2%. Increases were recorded in four groups only: the volume grew mostly, by 10.6%, in the smallest weight representing processing and preserving of fish, crustaceans and molluscs.
Manufacture of basic pharmaceutical products and pharmaceutical preparations accounting for 2.8% of manufacturing rose to the largest degree, by 9.8%, primarily due to a remarkable increase in export sales.
The performance of the two medium-weight representing subsections was dissimilar: the manufacture of rubber and plastics products, and other non-metallic mineral products grew by 0.8%, at the same time the manufacture of basic metals and fabricated metal products dropped by 7.1%.
The rate of growth slackened in two smaller weight representing subsections, too: the manufacture of electrical equipment rose by 5.2%, while other manufacturing went up by 9.4%.
The manufacture of coke, and refined petroleum products fell in the highest degree, by 11.4%, owing to the unfavourable tendency in export sales.
Changes in production in the major subsections of manufacturing, August 2019
(%)
| 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 | 96.8 | 12.3 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 100.8 | 9.7 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 92.9 | 8.1 |
| CI | Manufacture of computer, electronic and optical products | 105.9 | 13.5 |
| CK | Manufacture of machinery and equipment n.e.c. | 98.4 | 5.4 |
| CL | Manufacture of transport equipment | 102.0 | 25.1 |
Out of the regions of Hungary, industrial production fell in Central Transdanubia (4.4%), in the Southern Great Plain (2.1%), as well as in Southern Transdanubia (1.5%). In the other regions volume increases between 1.4% and 5.7% were recorded, the highest growth being observed in the Northern Great Plain.
Total new orders volume in the observed subsections of manufacturing declined by 5.8% compared to the August 2018 data. New domestic orders volume increased by 0.7%, while new export orders dropped by 6.9%. The volume of total stock of orders at the end of August was below the previous year’s level by 6.7%.
In January–August 2019, compared to the same period of the previous year:
Industrial production rose by 5.6%. The volume of export sales representing 63% of all sales went up by 6.2%, domestic sales accounting for 37% of all sales grew by 6.4%.
Industrial production rose in every region of Hungary, the largest volume growth was measured in Pest region (8.9%), the lowest in Northern Hungary (0.5%).