Good news came from the Hungarian economy

Output in Hungary’s industrial sector rose 4.5% a year in February, about half the pace in January, the Central Statistical Office (KSH) said in a detailed reading of the data on Wednesday. Output in Hungary’s construction sector rose 42.3 percent a year in February, the fastest pace in nearly three years, the Central Statistical Office (KSH) said on Wednesday.

The automotive segment, which accounted for 25% of the manufacturing sector in February, fell 0.8% year on year as production stoppages and scale reductions due to the global shortage of semiconductors hit the sector recently. Production in the computer, electronic and optical equipment segment, which accounts for 11% of manufacturing, rose 2.0% year on year in February.

Output from the food, beverage and tobacco segment, which still accounted for 11% of manufacturing output, rose 10.0%. Adjusted for the number of working days, overall production increased by 4.5%.

Month-over-month, production increased 1.6%, seasonally and working day adjusted. For the January-February period, unadjusted production increased by 6.6% per year.

In addition, the production of the building segment increased by 56.2%, while the production of civil engineering increased by 20.0%. In absolute terms, production in the construction sector amounted to 397.9 billion forints (1.1 billion euros) in February.

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Source: MTI

Laura T. Thrasher