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Hungary industrial output falls 0.2% in Jan

Hungary industrial output falls 0.2% in Jan

BUDAPEST: Hungary’s industrial output edged down an annual 0.2 percent according to unadjusted figures in January, the Central Statistical Office (KSH) said on Monday.

Industrial output was up by 2.2 percent according to workday-adjusted figures. Industrial output grew by 9.4 percent in December according to unadjusted data and by 6.8 percent according to workday-adjusted data.

Output increased year-on-year every month since the summer of 2013. KSH official Miklós Schindele attributed the January slowdown in industrial output to longer shutdowns around the Christmas holidays stretching over to January at certain large vehicle manufacturers.

As a result, vehicle manufacturing showed a slight decline instead of the usual two-digit growth, which affected local suppliers as well, he added. The longer shutdown in the branch affected not only exports but domestic sales, too, because of the high share of vehicle manufacturing in industry, Schindele said.

A similar halt in output growth was last registered in October 2014, also related to vehicle manufacturing, he noted. In a month-on-month comparison, industrial output edged down 0.1 percent in January, adjusted for seasonal effects and the number of workdays, after falling by 0.7 percent in December.

Output fell month-on-month for the third consecutive month after increases in September and October. KSH will publish a second reading of the January industrial output data, including sales figures, on March 11.