Construction sector contraction accelerates in October
Output of Hungary's construction sector fell 16.2% year-on-year in October, after declining 14.7% in the previous month, Hungarian news agency MTI reports, citing data released by the Central Statistical Office (KSH) on Tuesday.
Output of the buildings segment slipped 5.3% and civil engineering output fell 26.5%.
In a month-on-month comparison, output rose a seasonally- and workday-adjusted 1.3%.
In absolute terms, construction sector output came to HUF 389.4 billion in October.
For the period January-October, construction sector output fell 11.7% as building segment output dropped 9.5pc and civil engineering output declined 14.2%. Output came to nearly HUF 3.328 trillion for the period.
Construction company order stock was down 10% at the end of October from twelve months earlier. Building segment order stock rose 25% but civil engineering orders declined 23%.
New orders were up 17.3% as new building segment orders increased 16.1% and new civil engineering orders rose 18.5%.
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