Construction output plummets 14.4% in November
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The volume of construction output in Hungary fell by 14.4% in November compared to the same month a year earlier, with output dropping in both main groups of construction. While construction of buildings decreased by 2.5%, civil engineering works declined by 25.7%, the Central Statistical Office (KSH) said this morning in a first release of data.
Based on seasonally and working day-adjusted indices, construction output increased by 1.7% in November compared to the previous month.
The decline in civil engineering works was primarily caused by the completion of works carried out using EU funds at the end of the preceding year, the KSH noted. Compared to the corresponding period of the previous year, the largest decrease was recorded in the output of utility construction enterprises in November, it added.
Of the branches of the construction industry, output in the division of construction of buildings was slightly up by 3.1%, but fell by 37.6% in civil engineering and by 6.6% in specialized construction activities, according to KSH data. The volume of new contracts was 28.2% lower than in the corresponding period of the previous year.
In the January-November period, the volume of construction output was 19.2% lower than during the equivalent period of 2015.
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