Industrial production increased by 5.9%
In February 2019, the volume of industrial output grew by 5.9% year-on-year. The working day adjusted index was equal to the non-adjusted one.
In February 2019:
The volume of industrial production increased by 5.9% year-on-year. (Compared to the February 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 above the previous month’s level by 1.0%.
The volume of industrial export grew by 7.7% year-on-year. Within export sales in manufacturing, the 38% representing transport equipment export went up by 12.5%, while in the manufacture of computer, electronic and optical products accounting for 14% weight, the volume rose by 12.2%.
Industrial domestic sales increased by 3.8%, within it, domestic sales in manufacturing were 7.6% higher compared to the same month of the previous year.
Within industry, production grew by 6.5% in the decisive weight (95%) representing manufacturing, and it went up by 60% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) declined by 5.2%, mainly as a result of milder weather compared with the previous year (according to the Hungarian Meteorological Service the February 2019 average temperature was 3.8 (C higher than the February 2018 average).
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 | 103.7 | 103.4 | 110.6 | 100.9 | 72.6 | |
| 2019 | January | 103.7 | 106.4 | 108.6 | 105.6 | 74.5 |
| February | 106.5 | 107.7 | 107.6 | 107.7 | 74.4 | |
| From the beginning of the year | 105.1 | 107.0 | 108.1 | 106.7 | 74.4 | |
The manufacture of transport equipment representing 31% of manufacturing output grew by 10.0% year-on-year. The manufacture of motor vehicles went up by 15.1%, while the manufacture of parts and accessories for motor vehicles rose by 4.0%.
The manufacture of computer, electronic and optical products accounting for 11% of manufacturing increased by 11.4%. Out of the two most significant groups the manufacture of communication equipment rose by 17.3%, the manufacture of consumer electronics went up by 24%.
The manufacture of food products, beverages and tobacco products providing almost 10% of manufacturing grew by 5.4% 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%) increased by 1.1%, while the manufacture of beverages, giving the second largest weight, rose by 19.7%. Decreases were recorded in three groups, out of these the smallest weight carrying manufacture of tobacco products fell the most by 22%.
The other manufacturing representing small weight grew at the highest rate among the subsections, by 27% year-on-year, with increases 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 6.2%, while the manufacture of basic metals and fabricated metal products rose by 1.4% year-on-year.
The decline has been lasting for four months in the manufacture of basic pharmaceutical products and pharmaceutical preparations: output dropped by 4.1% year-on-year in February, due to an unfavourable tendency in both domestic and export sales.
The manufacture of textiles, wearing apparel, leather and related representing the smallest weight fell the most by 9.4%, sales declined in both sales directions.
Changes in production in the major subsections of manufacturing, February 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 | 105.4 | 9.6 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 106.2 | 8.7 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 101.4 | 8.4 |
| CI | Manufacture of computer, electronic and optical products | 111.4 | 11.4 |
| CK | Manufacture of machinery and equipment n.e.c. | 97.7 | 5.7 |
| CL | Manufacture of transport equipment | 110.0 | 31.3 |
Industrial production grew in every region. The highest growth was observed in Budapest region (10.7%), whereas in all others volume increases between 0.7% and 10.6% were measured.
Total new orders volume in the observed subsections of manufacturing rose by 5.5% compared to the February 2018 data. New domestic orders volume increased by 6.4%, new export orders went up by 5.4%. The volume of total stock of orders was above the level of February 2018 by 8.0%.
In January–February 2019, compared to the same period of the previous year:
Industrial production rose by 5.2%. The volume of export sales representing 63% of all sales went up by 7.2%, while that of domestic sales accounting for 37% of all sales grew by 6.3%.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Budapest region (9.9%), while the lowest in the Southern Great Plain (1.5%).