Industrial output in Hungary fell by an annual 2.3% in September, and the output of automotive manufacturers, the biggest segment of Hungary’s industrial sector, dropped by an annual 25.9% as the global chip shortage impacted the local automotive industry, a detailed reading of data released by the Central Statistical Office (KSH) on Friday shows. The decline in output of automotive industry companies, which accounted for 23% of total manufacturing output in September, slowed from a drop of 34.1% in August. Output of the computer, electronics and optical equipment segment, accounting for 12% of manufacturing, slipped 11.4% in September.
Output of the food, drinks and tobacco segment, which made up 13% of manufacturing sector output, increased by 11.1%. Adjusted for the number of work days, headline industrial output dropped by 1.7%. Month on month, output edged down a seasonally and working day-adjusted 0.3%.