Money Buzz! Europa

Tag: KSH

  • Hungarian industrial production decreased by 30.7%

    Hungarian industrial production decreased by 30.7%

    Latest KSH date show that in May 2020 the volume of industrial production lagged behind the high base of the previous year by 30.7%. Based on working-day adjusted data, production declined by 27.6%.

    The production volume decreased in every manufacturing subsection. An outstanding fall was observed in the largest weight representing manufacture of transport equipment, while the manufacture of computer, electronic and optical products, as well as the manufacture of food products, beverages and tobacco products declined to a lesser degree.

    In the first five months of the year production was 13.8% lower than in the same period of the previous year.

    Industrial output in May – according to seasonally and working-day adjusted indices – was 15.6% above the level of the previous month.

  • Unemployment rate at 4.1% in Hungary

    Unemployment rate at 4.1% in Hungary

    KSH shows that in the period of March–May 2020, the average number of unemployed people was 190 thousand, and the unemployment rate was 4.1%.

    Men and women were characterized by almost the same level of unemployment, and the value of the indicator increased to a similar extent for both sexes.

    In May 2020, the number of unemployed increased by about 28 thousand people compared to the previous month. The average number of unemployed people was 215 thousand, and the unemployment rate was 4.7%

    Compared to the previous month, the number of unemployed increased by 28 thousand and compared to May 2019 by 55 thousand.

    The unemployment rate rose by 0.6 percentage point in one month and by 1.2 percentage points in one year.

    The number of inactive people decreased significantly, by 59 thousand, as most of those who had previously become unemployed began to actively look for work after the restrictions on personal relationships were lifted.

    Of these, 31 thousand have started work, increasing employment levels.

    However, a further 28 thousand, despite actively looking for work and being able to start work within 2 weeks, could not find a job, increasing the number of unemployed.

  • Industrial production decreased by 36.8% in Hungary

    Industrial production decreased by 36.8% in Hungary

    In April 2020 the volume of industrial production declined by 36.8% year-on-year in Hungary, as KSH data shows.

    Based on working-day adjusted data, production fell by 36.6%.

    The economic effects caused by the coronavirus epidemic were significant in this period.

    The manufacture of transport equipment fell outstandingly, to one-fifth, due to the temporary total or partial production stoppage.

    The manufacture of food products, beverages and tobacco products declined to a lesser degree, while the manufacture basic pharmaceutical products and pharmaceutical preparations grew almost by one-fifth.

    The volume of industrial export dropped by 43% year-on-year. Transport equipment export, representing a 15% weight within export sales in manufacturing fell outstandingly, by 77%, while the export in manufacture of computer, electronic and optical products accounting for a 19% weight declined by 23%.

    Industrial domestic sales decreased by 18.6%, within it domestic sales in manufacturing were 25% lower compared to the same month of the previous year.

  • Hungary: Prices increased by 2.2% in May

    Hungary: Prices increased by 2.2% in May

    • Consumer prices were 2.2% higher on average in May 2020 than a year earlier, KSH data show.
    • Significant price increases were measured over the past year for food as well as alcoholic beverages and tobacco.

    Compared to May 2019, food prices went up by 8.4%, within which the price of other meat preparations became 22.0%, pork prices 20.7%, the price of seasonal food items (potatoes, fresh vegetables and fruits) 19.1%, that of sugar 15.0% and salami, sausages and ham prices 12.6% higher.

    The price of alcoholic beverages and tobacco rose by 6.7% on average, within which tobacco prices by 11.1%.

    Consumers paid 2.6% more for services, within which the price of repairs and maintenance of dwellings increased by 11.7% and the price of repairs and maintenance of vehicles by 9.3%. Motor fuel prices were cut by 22.0%.

  • Unemployment rate at 3.8% in Hungary

    Unemployment rate at 3.8% in Hungary

    In the period of February–April 2020, the average number of unemployed people was 174 thousand, and the unemployment rate was 3.8%, latest Hungarian Central Statistical Office data show.

    Unemployment rate was lower for men than for women, with this indicator essentially stagnating for men and increasing for women.

    In April 2020, about 73 thousand people lost their jobs, of which 54 thousand became economically inactive and 19 thousand unemployed.

    In February–April 2020, compared to a year before

    Among men aged 15–74, the number of unemployed was 92 thousand, and the unemployment rate was 3.6%. In the case of women, the number of unemployed rose to 83 thousand and the unemployment rate to 4.0%

    Among people aged 15–24, the number of the unemployed was 35 thousand and their unemployment rate 11.2%. Nearly one fifth of the unemployed belonged to this age group. Unemployment rates for people aged 25–54, being in the so-called best working age grew by 0.4 percentage point to 3.5%, and for people aged 55–74 remained virtually unchanged, with 2.1%.

    The average duration of unemployment was 9.2 months; 25.7% of unemployed people had been searching for a job for one year or more, i.e. were long-term unemployed.

    In April 2020

    The average number of unemployed people was 187 thousand, and the unemployment rate was 4.1%

    Compared to the previous month, the number of unemployed increased by 19 thousand and compared to April 2019 by 29 thousand. The unemployment rate rose by 0.5 percentage point in one month and by 0.7 percentage point in one year.

    However, the number of jobless people increased significantly compared to the previous month, by about 73 thousand.

    The majority of people who lost their jobs did not actively look for work and / or could not start a new job within 2 weeks, mainly due to restrictions on personal relationships.