Industrial production increased by 0.2%
In July 2017, the volume of industrial output was 0.2% higher than a year earlier based on both working days adjusted and non-adjusted indices. Output went up by 4.8% in the first seven months of 2017 compared to the same period of the previous year.
In July 2017:
The volume of industrial production increased by 0.2% year-on-year. (Compared to the data of July published in the first estimate, there was no change in the data of the second estimate.)
Industrial output – according to the seasonally and working-day adjusted index – was below the level of the previous month by 4.2%.
The volume of industrial export sales rose by 1.1% compared to the same period of the previous year. Within export sales in manufacturing, the exports of transport equipment representing 35% declined by 8.3%. In the manufacture of computer, electronic and optical products – accounting for 14% of manufacturing exports –, the export volume increased by 1.6%.
Industrial domestic sales and within this the domestic sales of manufacturing both grew year-on-year by 2.2%.
Out of the sections of industry, production rose by 0.3% in manufacturing representing a decisive weight (96%) and by 15.7% in mining and quarrying having little weight. The output of energy industry (electricity, gas, steam and air-conditioning supply) decreased by 6.4%.
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 | |
| July | 100.3 | 100.7 | 102.2 | 100.2 | 73.3 | |
| From the beginning of the year | 104.8 | 104.1 | 102.5 | 104.7 | 75.4 | |
The production of transport equipment representing 28% of the manufacturing output dropped year-on-year by 7.9%. It also played a role in the downturn that the summer stoppage was now in a different period than in the base year and the lower performance level of the subsection was also reflected in its orders indicators. The manufacture of parts and accessories for motor vehicles went up by 1.3%, at the same time the manufacture of motor vehicles fell by 15.9%.
The manufacture of computer, electronic and optical products accounting for 11% in manufacturing grew by 4.9%, within this the manufacture of consumer electronics having the largest weight increased outstandingly, by 15.3%.
The manufacture of food products, beverages and tobacco products giving 12% of manufacturing rose by 4.6%. Within this, the largest group (representing 23% of the subsection), the processing and preserving of meat and the production of meat products declined by 5.8%, while the second largest group, the manufacture of beverages grew by 10.5%, year-on-year.
The manufacture of machinery and equipment n.e.c accounting for 7.0% of the manufacturing output grew year-on-year the most by 13.7%, mainly due to the low base effect.
The manufacture of basic metals and fabricated metal products also having medium weight rose by 11.5% and the manufacture of rubber and plastics products, and other non-metallic mineral products increased by 8.8%, owing to a favourable tendency in both domestic and export sales.
The downturn continued in the manufacture of chemicals and chemical products: output fell by 7.7% in July, largely due to the decline in manufacture of plastics in primary forms.
The manufacture of coke, and refined petroleum products dropped at the highest rate of 12% year-on-year, mainly as a result of a fall in domestic demand.
Changes in production in the major subsections of manufacturing, July 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 | 104.6 | 12.1 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 108.8 | 8.5 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 111.5 | 8.7 |
| CI | Manufacture of computer, electronic and optical products | 104.9 | 10.8 |
| CK | Manufacture of machinery and equipment n.e.c. | 113.7 | 7.0 |
| CL | Manufacture of transport equipment | 92.1 | 28.1 |
Total new orders in the observed subsections of manufacturing declined by 2.5% compared to the same month of 2016. The volume of new export orders decreased by 2.3%, while that of new domestic orders dropped by 3.8%. The volume of total stock of orders was below the level of July 2016 by 2.9%.
In January–July 2017, compared to the same period of the previous year:
Industrial production went up by 4.8%. The volume of export sales representing 65% of all sales grew by 5.2%, while that of domestic sales accounting for 35% of all sales increased by 3.6%.
The labour productivity of industrial enterprises with 5 or more employees went up by 1.4% 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 (8.5%), while the lowest in Southern Great Plain (3.1%).