• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Cryptocurrency
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Cryptocurrency
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

CEE ECONOMY Czech, Hungarian industrial output stronger than expected in November

Mark White by Mark White
January 10, 2022
in Supply Chain
0


Jan 7 (Reuters) – Industrial output in the Czech Republic and Hungary rose more than expected in November, showing a pick-up even as car sector woes continue to drag.

The data was more evidence central European economies likely ended 2021 stronger than first thought as industry weathers supply chain crunches and rising input costs.

Czech industry posted its second strongest month this year, showing a 1.6% year-on-year output rise in November, while growing by 4.9% on the month, boosted by machinery manufacturing.

Register now for FREE unlimited access to Reuters.com

Headline figures in Hungary showed a 2.6% rise in output and 2.9% monthly gain.

The two economies are strongly dependent on car production, which continued to fall in November amid global chip shortages that have slowed automakers’ production.

“This is a strong positive surprise,” Peter Virovacz of ING in Budapest said.

“Until now we saw that industries with less weight could not balance out the effects of shortages on the most important sectors of car manufacturing and electronics, and their troubles dragged down industrial production as a whole.”

In the Czech Republic, while car production was down 7% in November, the data gave a view that industry could give an end-of-year boost to economic growth, which has relied heavily on domestic demand after the end of lockdowns last spring.

The statistics office said new orders rose 9.3% year-on-year, led by foreign demand.

“Industry’s problems with parts shortages or in supply chains are not over, but leading indicators in December already indicated that the situation has gradually improved,” said Jakub Seidler, chief economist for the Czech Banking Association.

Register now for FREE unlimited access to Reuters.com

Reporting by Jason Hovet in Prague and Anita Komuves in Budapest; Editing by Toby Chopra

Our Standards: The Thomson Reuters Trust Principles.



Source link

Previous Post

Rupiah gains as Indonesia mulls lifting coal export ban, Singapore stocks jump

Next Post

German stocks – Factors to watch on January 10

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post
U.S. imposes arms embargo on Cambodia over Chinese military influence

German stocks - Factors to watch on January 10

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News