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Facts & Statistics

Industrial production grew 3.5 percent in November

Seasonally adjusted industrial output up 63 percent from its April low.

Based on initial estimates, the Central Statistical Office (CSO) seasonally adjusted industrial output was 1.2 percent lower in November than in October but increased 63 percent from its low in April.

After rising 2.2 percent and 0.6 percent, respectively, in the previous two months, industrial production saw its highest annual growth in November. The production of vehicles, computers, electronics and optical products increased, while production volumes decreased in most other manufacturing sub-sectors, including food, beverages and tobacco.

Vehicle production already outperformed the previous year’s growth by 6.4 percent in August 2020, hitting rates of 7.8 and 7.6 percent in September and October. Meanwhile, the production of computer electronics and optical products suffered the effects of the epidemic in the spring but was up for the sixth month in a row in November; in October, growth here was up 10.4 percent versus 2019.

Overall, industrial production in the first eleven months of 2020 was 7.0 percent lower than in the same period in 2019. 

The CSO will publish detailed data on industrial production last November on January 13, based on secondary estimates. 

Source
www.novekedes.hu
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