New orders of the branches of manufacturing increased by 2.6%

In June 2008, the industrial gross output decreased by 0.3% compared to June 2007. In the first six months of 2008, the volume of the production was higher by 5.6% than in the same period of the previous year.

 In June 2008, a fall was recorded in
the industrial production, the first since October 2002, due to the
Western European recession and the strong HUF as well.

The industrial export sales grew by
8.2% in the first six months and by 0.2% in June compared to the same
period of the previous year. The deceleration of export was observed
first of all among the large enterprises. In the sixth month of the
year the greatest exporter (representing more than one third in the
export of manufacturing), the manufacture of electrical and optical
equipment had an export volume decline of 1.6%.

The export volume of transport
equipment − the other significant subsection, giving more than one
fourth in the export sales of manufacturing − rose by 1.3%.

In January-June, the industrial
domestic sales as a whole exceeded the level of the same period of
the previous year by 2% and in June declined by 3.4%. The energy
section contributed to the increase in domestic sales of industry,
since the purchase value of electricity, gas, steam and water resold
(redistributed) is also included in domestic sales of electricity,
gas, steam and water supply, causing a significant part in the
growth.

In the first six months of this year,
the domestic sales of manufacturing decreased by 1.1% and in June by
5%. In June 2008, the output of manufacturing decreased by 0.7%
compared to the same month of 2007. The volume of mining and
quarrying (having little weight) rose by 7.6%, while the output of
electricity, gas and water supply was above the level of the same
month of the previous year by 2.6%.

Among the subsections of manufacturing
the production of manufacturing non elsewhere classified – one of
the smallest shares – increased to the highest degree, by 9.8%,
first of all owing to an outstanding achievement in the manufacture
of furniture. A significant (8%) volume growth was in the manufacture
of nonmetallic mineral products, primarily due to the running up of
domestic sales. The volume of transport equipment (giving close to
one fifth of manufacturing) exceeded the level of the same month of
2008 by 3.4%. The source of the growth was the manufacture of parts
and accessories for motor vehicles and their engines, because the
production of motor vehicles declined slightly. The output of
electrical and optical equipment (representing one fourth of
manufacturing) decreased by 1.4%. Similarly to the previous months
the production of food, beverages and tobacco (representing more than one
tenth of manufacturing) fell by 4.9%. Among the subsections, the
manufacture of textiles and textile products suffered the largest
volume decline (18.2%).

In June 2008, the total new orders of
the observed branches of manufacturing increased by 2.6% compared
with the same month in 2007. The volume of new export orders grew by
3.6%, while that of new domestic orders declined slightly, by 2%. The
volume of total stock of orders exceeded the level of June 2007 by
4.7%. The labour productivity of industrial enterprises with 5 or
more employees was by 5.7% higher in the first six months of the year
than in the same period of 2007, besides an 0.1% decline in the
number of employees.

In the first six months of 2008, among
the seven regions of Hungary a decline of production was observed
only in one, in Southern Great Plain (1.4%) compared to the same
period of 2007. The largest volume increase was observed in Central
Hungary (8.8%).