In august 2015, the volume of industrial output in Hungary was up by 6.2 percent year-on-year. Thus, the positive output trend has been in place for the 24th consecutive month. The expansion has been mainly the result of output growth in the manufacturing sector – within that the expansion of motor vehicle manufacturing and related sub sectors. The massive stock of orders and high demand for cars on external markets also indicate that growth will continue in coming months.

Except for five divisions, output growth was recorded in all 13 sub sectors of the manufacturing industry. Among larger sub sectors, output increased year-on-year by more than 13 percent in motor vehicle manufacturing, which constitutes more than one-fourth of total output, and in related rubber manufacturing. The two sub sectors’ contribution to total growth was 5.4 percentage points, thanks mainly to capacity expansion and steady car industry demand abroad.

As far as the regional composition of output is concerned, growth has been even in the country, as output volume was higher year-on-year in every region.

The Ministry is expecting favourable processes to remain in place in the remainder of the year. The volume of new orders within major manufacturing factors increased by 2.4 percent compared to the same period of the previous year. As another positive factor, a large part of EU funding, which became avaialable as of July 2015, can be allocated for production capacity expansion at small- and medium-sized enterprises.

(Ministry for National Economy)