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INDUSTRIAL OUTPUT UP 2.4% YR/YR IN JAN

 

Industrial output in Hungary rose by an annual 2.4% in January, the Central Statistical Office (KSH) said, confirming the preliminary estimate. Adjusted for the number of working days, output was up 2.7%. Month on month, output rose by 4.6%, adjusted for seasonal and workday effects, KSH said. Output of Hungary’s automotive sector, an engine of industrial growth, climbed 10.6% year on year, picking up after a decline in the previous month. Output of the sector, which accounts for about 31 % of total manufacturing output, had fallen by 10.4% in December. Output of the computer, electronics and optical equipment sector, which accounts for around 12% of manufacturing output, increased by 8.4% in January. Output of food, drink and tobacco products rose by 5.3%. The sector generates around 11% of manufacturing output.