Industrial production increased by 4.2%
In June 2018, the volume of industrial output grew by 4.2% year-on-year. Based on working-day adjusted data, the production rose by 3.1%.
In June 2018:
The volume of industrial production increased by 4.2% year-on-year. (Compared to the June 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 below the previous month’s level by 1.2%.
The volume of industrial export grew by 2.8% year-on-year. Within export sales in manufacturing, the 36% representing transport equipment export went up by 4.3%, at the same time in the manufacture of computer, electronic and optical products, accounting for 15% of manufacturing export, volume increased by 5.8%.
Industrial domestic sales rose by 6.7%, within this, the domestic sales of manufacturing were 7.6% higher compared to the same month of the previous year.
Within industry, production grew by 4.3% in the decisive weight (97%) representing manufacturing, while it went up by 35% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) dropped by 8.3%.
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 | 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 | |
| From the beginning of the year | 103.8 | 103.6 | 109.9 | 101.5 | 74.0 | |
The production of transport equipment representing 29% of manufacturing output rose year-on-year by 2.0%. The manufacture of parts and accessories for motor vehicles went up by 7.6%, whereas the manufacture of motor vehicles declined by 4.9%.
The manufacture of computer, electronic and optical products giving 12% of manufacturing grew by 6.6%. Out of the two dominant groups the manufacture of communication equipment increased outstandingly by 44%, while the manufacture of consumer electronics went up by 2.1%.
The manufacture of food products, beverages and tobacco products accounting for almost 10% of manufacturing went up by 4.3% compared to the previous year’s same month, both domestic and export sales increased. Out of the groups, the largest one, the processing and preserving meat and the production of meat products (representing 24% of the subsection) grew by 5.4%, Decreases were recorded in two groups only: in processing and preserving of fruit and vegetables (3.4%), and in the manufacture of dairy products (5.0%).
The increase of production continued in the medium-weight representing subsections: the manufacture of rubber and plastics products, and other non-metallic mineral products grew by 16.9%, while the manufacture of basic metals and fabricated metal products went up by 10.5% year-on-year.
After a decrease in the previous month the manufacture of pharmaceuticals, medicinal chemical and botanical products rose by 6.1% in June, mainly as a result of a growth in export sales, while domestic sales dropped.
The production has been declining for five months in the manufacture of machinery and equipment n.e.c accounting for 5.8% of the manufacturing: output dropped by 15.1% in June year-on-year, primarily due to a significant fall in the manufacture of engines and turbines, except aircraft, vehicle and cycle engines this having the largest weight among the classes.
Changes in production in the major subsections of manufacturing, June 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 | 104.3 | 9.9 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 116.9 | 8.9 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 110.5 | 8.7 |
| CI | Manufacture of computer, electronic and optical products | 106.6 | 11.8 |
| CK | Manufacture of machinery and equipment n.e.c. | 84.9 | 5.8 |
| CL | Manufacture of transport equipment | 102.0 | 29.0 |
By a 3.4% increase in the number of employees, the labour productivity of industrial enterprises with 5 or more employees was 0.6% higher in June than in the same month of the previous year.
Industrial production rose in every region of Hungary. The largest volume growth was measured in the Northern Great Plain (8.6%), while the lowest in the Southern Great Plain (0.6%).
Total new orders volume in the observed subsections of manufacturing grew by 12.5% compared to the June 2017 data. New domestic orders volume grew by 10.2%, while new export orders went up by 12.9%. The volume of total stock of orders was below the level of June 2017 by 3.0%.
In January–June 2018, compared to the same period of the previous year:
Industrial production grew by 3.5%. The volume of export sales representing 64% of all sales went up by 1.6%, while that of domestic sales accounting for 36% of all sales rose by 5.7%.
The labour productivity of industrial enterprises with 5 or more employees declined by 0.2% along with a 3.6% increase in the number of employees
Industrial production grew year-on-year in every region. The largest volume growth (8.2%) was recorded in Pest region, we measured volume increases between 1.3% and 7.3% in the other regions.