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INDUSTRIAL OUTPUT DROPS BY 2.1% IN AUGUST

 

Output of Hungary’s industrial sector fell by an annual 2.1% in August, after an 8.1% drop in July, the Central Statistical Office (KSH) said. The August figures indicated a move closer to a recovery after falling by around 8% in the previous two months. The scale of those declines was an improvement from double-digit drops in April and May because of a pandemic lockdown. Working day-adjusted data show industrial output edged down by 0.2% in August. KSH said the output of most branches of manufacturing fell in August but the biggest, such as vehicle manufacturing and, “to a lesser degree”, computer, electronics and optical equipment, increased. In a month-on-month comparison, industrial output rose by 6.8%, based on seasonally and working day-adjusted data. For the period January-August, industrial output fell by an annual 11%.