KSH: Hungary’s construction output down 19.2% in February
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The volume of Hungary’s construction output fell 19.2% in February, as compared to the same period a year ago, with the output of both main groups of constructions down – the construction of buildings and civil engineering works – according to a first release of data published by the Hungarian Central Statistical Office (KSH) today.
According to KSH, the construction of buildings was down 8.6%, and the construction of civil engineering works fell by 35.4% in February in year-on-year terms. The decline in production was due in part to the completion of works carried out through EU funds at the end of last year and in part by the high base.
Construction output increased by 1.1% in February compared to the previous month, based on seasonally and working day adjusted indices.
In year-on-year terms, of the divisions of construction, output fell by 12.1% in the construction of buildings and 50.2% in the construction of civil engineering works in February, according to KSH. Additionally, output dropped 7.8% in the division of specialized construction works, which accounts for more than 40% of construction output.
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