Following moderate expansion in August, as factories temporarily halted production due to summer recess, in September 2014 Hungary’s industrial output picked up speed again as expected and achieved outstanding growth of 7.6 percent year-on-year.Several factors are signalling that this growth is based on sound fundamentals: expansion has been underpinned by both exports and domestic demand; output was higher in twelve out of the altogether thirteen manufacturing sub sectors and output increased in the every Hungarian region in the initial nine months of the year.

In September 2014, industrial output has been up for the thirteenth consecutive month, contributing not only to the growth of exports, but to the creation of new jobs and the realization of new investment projects. In the initial nine months of this year, output soared by 8.6 percent year-on-year, while it was 5.2 percent higher month-on-month.

Besides the excellent performance of the vehicle manufacturing sector, expansion has also been fuelled by output at the food industry and at electric goods manufacturers. Vehicle manufacturing output increased again outstandingly, by 16 percent, while output regarding the manufacturing of computers, electronic and optical products was 6.8 percent higher and that of food, beverages and tobacco products was up by 4.3 percent. Growth continued at manufacturers of textiles, wearing apparel, leather and related products: thanks to rebounding exports, this sector registered the largest output increase with 21.4 percent.

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