KSH: Hungary’s construction output down 6.1%

Construction

The volume of construction output in Hungary saw a decrease of 6.1% y.o.y. in August, with the volume of the construction of buildings falling 5.2% and that of civil engineering works by 6.8%, Hungary’s Central Statistical Office (KSH) reported today.

Based on seasonally and working day adjusted indices, construction output decreased by 3.6% in year-on-year terms, while in the first eight months, construction output expanded by 4.7% y.o.y., KSH added.

In year-on-year terms in August, “out of the divisions of construction, output grew by 4.9% in the division of construction of buildings and was down by 5.3% in the construction of civil engineering works. Output fell by 12.4% in the division of specialized construction works, accounting for more than 40% of construction output,” KSH said.

KSH data suggests that the volume of new contracts was 10.6% lower y.o.y., while the volume of new contracts decreased by 18.9% in the construction of buildings and by 4.0% in the construction of civil engineering works.

“At the end of August 2015, due to a more than year-long downturn in new contracts, the volume of the stock of contracts was 48% lower; within this, the volume of the stock of contracts decreased by 6.4% for the construction of buildings and fell by 56.9% for the construction of civil engineering works compared to a year earlier,” KSH said.

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