The production of food decreased considerably in November

According to national statistic office in November 2008, industrial gross output decreased by 12% compared to November 2007, the index adjusted for working days declined by 9.9%.

 The volume of production was higher by
0.4% in the first eleven months of 2008 than in the same period of
the previous year. The volume of industrial production in November –
according to seasonally and by working-day adjusted indices – was
below the level of the previous month by 2%.

Industrial export sales grew by 1.1% in
the first eleven months of 2008 and declined by 14.3% in November compared to the same period of
the previous year. In the eleventh month of the year the largest
exporter (representing four tenths in the export of manufacturing),
the manufacture of electrical and optical equipment had an above
average decrease in export volume at a rate of 17.9%. The export
volume of transport equipment − the other significant subsection,
giving nearly one fourth in the export sales of manufacturing −
dropped by 14.7%.

Industrial domestic sales declined by
1% in the first eleven months and by 9.7% in November. Domestic sales
of manufacturing decreased by 2.8% in the first eleven months of this
year and by 7.8% in November compared to the same period of the
previous year, because of a fall in orders concerning the domestic
supplier networks of export oriented enterprises.

In November 2008, the production of
manufacturing fell by 13.2%, while that of mining and quarrying
(having little weight) rose by 34% compared to the same month of
2007, due to a dynamic increase in services incidental to oil and gas
extraction. The output of electricity, gas and water supply was 2.5%
lower than in the same month a year ago, partly owing to the milder
weather compared to the previous year (in November 2008, the
temperature was 2.9°C higher than the average of November 2007 –
according to the Hungarian Meteorological Service).

In November a decrease was observed in
every subsection of manufacturing. Out of subsections with a greater
proportion the production of electrical and optical equipment (giving
nearly one third of manufacturing) declined remarkably, by 17.1%.
Within the subsection the greatest fall was observed in manufacture
of radio, television and communication equipment and apparatus. The
production of food, beverages and tobacco (accounting for more than
one tenth of manufacturing) also decreased considerably, by 14%,
first of all due to a drop in domestic sales accounting for almost
three quarters of total sales. This phenomenon was observed at all
branches. Manufacture of transport equipment (accounting for more
than one sixth of manufacturing) had an output decline of 12.6%
compared to the same month of the previous year.

In November 2008, total new orders in
the observed branches of manufacturing fell by 25.1% compared to the
same month of 2007. The volume of new export orders decreased by 25%,
while that of new domestic orders declined by 25.7%. The volume of
total stock of orders was below the level of November 2007 by 6.6%.

In the first eleven months of this year
the labour productivity of industrial enterprises with 5 or more
employees was 0.9% higher than in the same period of 2007, in
addition to a 0.6% decline in the number of employees.

In the first eleven months of 2008,
among the regions of Hungary, industrial production decreased in four
regions compared to the same period of 2007. The greatest volume
decline was in Southern Great Plain (4.1%). In the other regions
volume increases of 0.4% to 1.7% were recorded. In November, falls
were observed in every region.