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INDUSTRIAL OUTPUT GROWS BY 2.6% IN AUG

 

Industrial output in Hungary rose by an annual 2.6% in August, the Central Statistical Office (KSH) said on Wednesday. Adjusted for the number of working days, output edged up by 0.6%, staying slightly above the output in 2019, the second reading of data showed. Month on month, output fell 2.7% based on seasonally and working day-adjusted data. Output of vehicle manufacturing fell by an annual 33.7% in August as the global semiconductor shortage impacted factories. The decline in output of automotive industry companies, which accounted for 17% of total manufacturing output in August, accelerated from a 6.7% drop in July. Output of the computer, electronics and optical equipment segment, accounting for 12% of manufacturing, slipped 3.7% in August. The volume of industrial exports edged up 0.2%.