Industrial production decreased by 7.2%
The volume of industrial production dropped in September 2024 by 7.2%, based on working-day adjusted data production declined by 5.4%, year-on-year. Out of the manufacturing subsections production increased in two, the manufacture of food products, beverages and tobacco products as well as in the wood, paper and printing industry, while decreased in eleven. According to seasonally and working-day adjusted data, industrial output was 0.7% lower than in August 2024.
In September 2024:
The volume of industrial production declined by 7.2% compared to the same period of the previous year. (Compared to the September data published in the first estimate, the data in the second estimate did not change.)
Industrial output in September – according to seasonally and working-day adjusted indices – was 0.7% below the level of the previous month.
The volume of industrial export was 5,0% lower than a year earlier. The manufacture of transport equipment export, representing a 33% weight within export sales in manufacturing dropped by 11.3%, the manufacture of electrical equipment export, accounting for a 14% weight, declined by 5.6%.
Domestic sales of industry decreased by 2.9%, those of manufacturing were 6.4% lower compared to the same month of the previous year.
Within industry, production dropped by 8.3% in the decisive weight (96%) representing manufacturing, declined by 2,2% in the energy industry (electricity, gas, steam and air-conditioning supply), at the same time grew by 29% in the small weight representing mining and quarrying,
Changes in the production and sales of manufacturing
(%)
| Period | Production | Total | Domestic | Export | Share of export in sales at current prices | |
|---|---|---|---|---|---|---|
| sales | ||||||
| Volume index, corresponding period of previous year = 100.0 | ||||||
| 2022 | 106.2 | 106.2 | 100.2 | 108.8 | 71.5 | |
| 2023 | 95.8 | 97.4 | 91.8 | 99.7 | 72.7 | |
| 2024 | January | 95.4 | 94.8 | 98.9 | 93.5 | 73.7 |
| February | 102.0 | 100.6 | 101.1 | 100.5 | 74.3 | |
| March | 88.8 | 87.9 | 91.7 | 86.6 | 72.9 | |
| April | 106.7 | 105.5 | 106.4 | 105.1 | 72.6 | |
| May | 93.4 | 90.0 | 98.9 | 86.8 | 71.0 | |
| June | 90.8 | 89.7 | 92.4 | 88.8 | 73.2 | |
| July | 97.4 | 98.6 | 98.6 | 98.7 | 72.1 | |
| August | 89.7 | 89.8 | 89.1 | 90.0 | 71.7 | |
| September | 91.7 | 93.2 | 93.6 | 93.1 | 73.5 | |
| From the beginning of the year | 94.9 | 94.2 | 96.5 | 93.4 | 72.8 | |
In the largest weight representing manufacture of transport equipment, having a 27% share in manufacturing output, production dropped by 11.4% compared to the same month of the previous year. Motor vehicles manufacturing fell by 14.8%, the manufacture of parts and accessories for motor vehicles declined by 8.5%.
The manufacture of electrical equipment, having a 10% weight in manufacturing was 10.0% lower than a year earlier. In the two largest weight representing groups production volume in manufacture of batteries and accumulators dropped by 11.6%, in the manufacture of electric motors, generators, transformers and electricity distribution and control apparatus lessened by 8.6%.
The manufacture of computer, electronic and optical products, accounting for 9.7 % within manufacturing output, decreased by 9.2% compared to September 2023. Out of the two largest groups, the manufacture of electronic components and boards dropped by 21%, the manufacture of consumer electronics fell by 11.0%.
The manufacture of food products, beverages and tobacco products, having a 14% share in manufacturing, was 0.7% higher than a year earlier, due to an increase in both domestic and export sales. Processing and preserving meat and the production of meat products, representing the largest weight (21%), grew by 10.5% compared to September of the previous year. Production rose between 5.8% and 38% in other six groups, too, to the greatest extent in processing and preserving of fish, crustaceans and molluscs, least of all in the manufacture of bakery and farinaceous products. Output decreased between 2.4% and 25% in the other four groups, the most in processing and preserving of fruit and vegetables.
Out of the two medium weight representing subsections the manufacture of rubber and plastics products and other non-metallic mineral products declined by 0.5%, the manufacture of basic metals and fabricated metal products, except machinery and equipment dropped by 6.9% year-on-year.
After a four-month increase in the manufacture of chemicals and chemical products accounting for 4.9% within manufacturing, output was 6.1% lower than a year earlier, mainly owing to a fall in the significant weight carrying manufacture of plastics in primary forms.
Out of the subsections the manufacture of coke, and refined petroleum products, having a smaller weight, lagged behind the most, by 27%, sales dropped in both directions.
Changes in production in the major subsections of manufacturing, September 2024
(%)
| Subsections | Volume indices of production, corresponding period of the previous year = 100.0 | Share of subsection within manufacturing at current prices | |
|---|---|---|---|
| code | denomination | ||
| CA | Manufacture of food products, beverages and tobacco products | 100.7 | 13.8 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 99.5 | 8.2 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 93.1 | 7.1 |
| CI | Manufacture of computer, electronic and optical products | 90.8 | 9.7 |
| CJ | Manufacture of electrical equipment | 90.0 | 10.4 |
| CL | Manufacture of transport equipment | 88.6 | 26.5 |
Industrial production grew only in the Northern Great Plain (by 0.6%), in the other regions volume decreases between 3.7% and 15.8% were recorded, the highest one in Pest region.
The volume of total new orders in the observed divisions of manufacturing was 3.1% lower compared to September 2023. New domestic orders dropped by 10.9%, new export orders fell by 1.9%. The total stock of orders at the end of September was below the previous year’s level by 23%.
In January–September 2024, compared to the same period of the previous year:
Industrial production decreased by 4.3%. The volume of export sales, representing 62% of all sales dropped by 4.8%, domestic sales accounting for 38% of all sales declined by 2.9%.
Out of the thirteen manufacturing subsections production fell in ten, to the greatest extent, by 12.3%, in the manufacture of electrical equipment. Output of the manufacture of transport equipment, the largest subsection, decreased by 7.9%. Production volume grew in three subsections, between 0.7% and 4.9%, at the highest rate in the manufacture of food products, beverages and tobacco products.