In May, the volume of industrial production exceeded a year earlier by 9.4 percent, after the 3.1 percent increase in April. Adjusted for the working day effect, production rose by 3.4 percent, as there were two more working days in May this year than in the same month of the previous year. Compared to April, seasonally and working day-adjusted industrial output increased by 1.4 percent, the Central Statistical Office (KSH) announced on Wednesday based on its first estimate. The monthly increase occurred after two months of decline.
The increase in May is the highest since last June, when the base effect of the previous year's epidemic began to weaken.
The majority of manufacturing industries contributed to the increase in production, KSH added. The volume of production also increased in the heaviest subcategories compared to a year earlier. Vehicle production - after three months of decline - was lower, while the production of computers, electronics, optical products, and food, beverages and tobacco products increased to a greater extent.
After the decline in January, the IT industry showed an increase of between 2-7 percent from February to April, while the food industry has continuously registered double-digit growth since last August.
In the first five months of the year, production was 5.9 percent higher than in the same period last year.
The KSH will announce the detailed data of industrial production in May next Wednesday, July 13.
Source: Hirado.hu
Image: Pixabay
