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INDUSTRIAL OUTPUT DOWN 8.1% YY IN JULY

 

Hungarian industrial output dropped by an annual 8.1% in July, according to unadjusted data, the Central Statistical Office (KSH) said on Friday in a second reading of the data. Based on working day-adjusted data, output in July fell by an annual 7.7%. Output of Hungary’s automotive sector, an engine of industrial growth under normal circumstances, fell by an annual 13.2% in July, outpacing the 12.9% decline in June. The automotive sector accounted for 29% of manufacturing sector output in July. Output of the computer, electronics and optical equipment segment, which made up 12% of manufacturing sector output, rose by an annual 2.3%. Output of food, drink, and tobacco companies eased by 0.3%, after edging up in the previous month.