June 15th, 2012

Automotive industry expands, telco sector contracts in April

Output of Hungary’s automotive sector jumped in April from the same period a year earlier, but output of the communications equipment sector plunged, a second reading of data for the period published by the Central Statistics Office (KSH) on Friday show.

The 20.2pc increase in the motor vehicles manufacturing sector was supported by the start of production at German carmaker Daimler’s new plant in central Hungary. The 17.4pc decline in communications equipment manufacturing came as Finnish handset maker Nokia made layoffs at its base in northwest Hungary as it moves production to Asia.

Headline industrial output fell 3.1pc in April, KSH said. The figure was the same as that in the first reading published on June 7.

Output also fell 3.1pc according to workday-adjusted data.

The unadjusted decline in output accelerated from a 1.6pc drop in March. Adjusted output was up 0.6pc in March.


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