In the month of April, almost every manufacturing sector performed better and in the initial four months of 2014 industrial sector output was higher in each and every Hungarian region. Accordingly, industrial growth was sound from a geographical and structural aspect. In light of detailed data from April 2014, industrial output was up by 10.1 percent year-on-year.

The industrial sector is providing predictable and stable livelihood for more and more people: the number of employees in the sector increased by 2.2 percent this year, while output per employee was 6.7 percent higher in the initial four months of the year in comparison to the corresponding period of the previous year (at industrial sector enterprises with at least five employees).

In addition to the vehicle manufacturing sector, a leading division, almost every other manufacturing division contributed to output growth in April. The Hungarian Central Statistical Office (KSH) compiles and assesses the statistics of thirteen sub sectors, of which only one registered lower output.Output at the largest sub sector, the vehicle manufacturing division, which constituted some 30 percent of total manufacturing sector output soared by 21.6 percent.

Following a downward trend in place in the past three years, output at the electronics industry has been up for the second consecutive month. While output was 1.6 percent in March, this sector expanded by 7.8 percent in April, thanks mainly to the higher demand for electronic consumer goods.

The marked output growth at the food industry was also attributable to the effect of Easter holidays (which happened to be in April this year, while it was in March last year).

The rebound in output had a favourable impact on trade data as well: industrial exports jumped by 11.4 percent in the initial four months of 2014, while they were up by 9.8 percent in April compared to the same period of last year. Vehicle exports also contributed to this result as they grew by 19.1 percent in the observed period.

As far as regions are concerned, output was up in every Hungarian region compared to the same period of the previous year. The largest growth (22.5 percent) was observed in Western Transdanubia, where the driver of growth was Győr-Moson-Sopron County.

The sector’s outlook is also promising: total new manufacturing orders increased by 6.5 percent month-month in April 2014, within which new export orders and new domestic orders were up by 4.8 percent and 18.2 percent, respectively.  Year-on-year growth was 18.4 percent.

(Ministry for National Economy)