In May 2008, the industrial gross output increased by 4.7%

The volume of the production was higher by 6.9% in the first five months of 2008 than in the same period of the previous year.

 The volume of industrial production in May –
according to seasonally and by working-day adjusted indices – was
below the level of the previous month by 0.7%.
The industrial export sales grew by 10%
in the first five months and by 1.9% in May compared to the same
period of the previous year. Two manufacturing subsections gave six
tenths of the export sales in May.
In the fifth month of the year the
greatest exporter (representing one third of the export of
manufacturing), the manufacture of electrical and optical equipment
had a 2.4% export volume growth. The export volume of transport
equipment − the other significant subsection, giving more than one
fourth of the export sales of manufacturing − rose by 2.6%.
The industrial domestic sales as a
whole in January-May exceeded the level of the same period of the
previous year by 2.8% and declined by 0.3% in May. First of all, the
energy section contributed to the increase of 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
of the growth. In the first five months of this year the domestic
sales of manufacturing decreased by 0.6% and in May by 3.7%.
Contrary to the outstanding growth
(11.8%) in April the output of manufacturing increased by 2.5% in May
2008 compared to the same month of 2007. The volume of mining and
quarrying (having little weight) declined by 15,8%, while the output
of electricity, gas and water supply was below the level of the same
month of the previous year by 1%.
Among the subsections of manufacturing
the output of coke, refined petroleum products – having almost a
10% share – rose to the highest degree, by 40.5%, first of all
owing to the very low base. A significant (10.6%) volume growth was
in the manufacture of non-metallic mineral products, first of all 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 2.3%. The output of electrical and
optical equipment (representing one fourth of manufacturing, giving
the greatest weight) rose below the average, by 1.4%. After 16
consecutive months of growth in this year’s May the volume of
leather and leather products (representing the smallest weight)
decreased (by 11.4%), primarily due to the strong fall of export
sales. The production of food, beverages and tobacco (representing
one tenth of manufacturing) fell by 11.8%. Among the subsections, the
manufacture of textiles and textile products suffered the largest
volume decline (28.3%).
In May 2008, the total new orders of
the observed branches of manufacturing decreased by 11.3% compared
with the same month in 2007. The volume of new export orders fell
remarkably, by 13.2%, while that of new domestic orders declined to a
lesser degree, by 1.5%. The volume of total stock of orders stayed on
the level of May 2007.
The labour productivity of industrial
enterprises with 5 or more employees was by 7.2% higher in the first
five months of the year than in the same period of 2007, beside an
0.2% decline in the number of employees.
In the first five months of 2008, among
the seven regions of Hungary a decrease of production was observed
only in one, in Southern Great Plain (0.6%) compared to the same
period of 2007. The largest volume increase was observed in Central
Hungary (10.9%).