Good news came from the Hungarian economy – UPDATED

Output of Hungary’s industrial sector rose by an annual 4.5 percent in February, around half the pace in January, the Central Statistical Office (KSH) said in a detailed reading of data on Wednesday. Output of Hungary’s construction sector rose by an annual 42.3 percent in February, the highest pace in almost three years, the Central Statistical Office (KSH) said on Wednesday.

The automotive segment, which accounted for 25 percent of the manufacturing sector in February, slipped by an annual 0.8 percent as production shutdowns and scale-backs because of the global semiconductor shortage recently hit the sector. The output of the computer, electronics and optical equipment segment, accounting for 11 percent of manufacturing, increased by an annual 2.0 percent in February.

Output of the food, drinks and tobacco segment, which made up another 11 percent of manufacturing sector output, climbed 10.0 percent. Adjusted for the number of workdays, headline output rose by 4.5 percent.

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UPDATE (14.57 GMT)

Output of Hungary’s construction sector rose by an annual 42.3 percent in February, the highest pace in almost three years, the Central Statistical Office (KSH) said on Wednesday. Output of the building segment climbed 56.2 percent, while civil engineering output was up by 20.0 percent.