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KSH: Construction sector output grows 8.8%

Construction

Output figures of Hungary's construction sector rose by a year-on-year 8.8% in November, slowing from a 15.8% rise in the preceding month yet rising for the 22nd month in a row, according to both unadjusted and workday-adjusted figures, the Central Statistics Office (KSH) reported today.  In absolute terms, at current prices, output of the sector reached HUF 213.3 bln in November.

New orders signed during the month fell by 42.7% in the same month a year earlier. They have fallen year-on-year every month since May. New orders in the buildings segment were down by 8.5% and new civil engineering orders fell by 53.7% from a year earlier.

Although the output of the buildings segment declined by a year-on-year 6.3%, output of the civil engineering segment was up by 23%.

However, in both a seasonally- and calendar-adjusted month-on-month comparison, construction sector output fell by 1.1%, though output of the buildings segment rose by 7% and civil engineering output rose by 1%.

KSH noted that civil engineering performance was boosted by railway renovation and road construction works as well as utilities developments, similar to previous months.

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