Hungarian construction companies association ÉVOSZ now expects the building sector to contract 7-10% this year, far more than the 0-2% projected at the beginning of the year, ÉVOSZ said on Thursday.
Public sector orders are just enough to keep the sector from contracting more than 10%, ÉVOSZ said.
ÉVOSZ puts output of the sector at HUF 1,700-1,760 billion in 2011, down about 40% at comparable prices from 2006, the last good year for the sector.
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