Investments in Hungary drop 6.5% yr/yr in Q2

Automotive

Investment volume in Hungary dropped 6.5% yr/yr in the second quarter and was down 2.4% according to seasonally adjusted figures from the first quarter, the Central Statistics Office (KSH) said on Wednesday.

Investment volume dropped 1.1% yr/yr in Q1 after a minus of 7.8% in Q4 2010, and was up 1.7% according to seasonally adjusted figures from Q4 of 2010 when it dropped 2,3%.

Investment volume dropped yr/yr now for the 14th quarter in a row. Previously, Q1 drop was the smallest since the decline started at the beginning of 2008.

KSH figures show quarter-on-quarter rises in 2008 and rises and drops varying since the beginning of 2009.

Investment into machinery, equipment and vehicles rose 4.5% yr/yr after rising 4.2% yr/yr in Q1 and falling 1.9% in Q4. It fell 1.4% in the full year of 2010. Construction-type investment fell 13.7% yr/yr after decreasing 8.0% in Q1 and dropping 11.3% in Q4. It fell 8.3% last year.

Except for a 0.3% rise in 2007, investments in Hungary fell in volume terms each year since 2006.

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