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Jan 13, 2017

Hungary's automotive sector down by 2.5 percent

Despite this drop, Hungary’s overall industrial output was up by an annual 0.6 percent in November after a 2.1 percent decrease in October

The automotive sector has become a key driver of industry in Hungary, but the output fell by 2.5 percent in a year from November 2015 to November 2016.

According to statistics released by the Central Statistical Office (KSH) the figure has dropped for the third month in a row.

MTI writes that Hungary’s overall industrial output was up by an annual 0.6 percent in November after a 2.1 percent decrease in October, KSH said, confirming its preliminary report.

The workday-adjusted index was the same as the unadjusted one for both months.

In a month-on-month comparison, industrial output grew by 0.9 percent in November, adjusted for seasonal effects and the number of workdays. The increase followed two months of decline.