Industrial production increases in August

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The volume of industrial production in Hungary increased by 14.4% year-on-year according to raw data, and by 9.3% year-on-year according to working-day-corrected data in August 2022, writes the Central Statistical Office (KSH).

Compared to the raw data, the significant difference is due to the fact that there were two more working days in August 2022 than in the same month of the previous year, explains the statistical agency.

According to data adjusted for seasonal variations and working days, industrial production increased by 0.1% compared to July 2022.

The majority of manufacturing sub-sections contributed to the production growth.

Production volume also increased in the largest weight representing sub-sections year-over-year: manufacturing of transportation equipment grew higher from the low base, while manufacturing of computer, electronic and optical products, as well as the manufacture of food, beverages and tobacco products also increased significantly.

In the first eight months of 2022, production was 6.1% higher than in the same period of 2021.

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