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Construction company start-ups nearly match liquidations

About as many new Hungarian construction companies were established in the month of October as the number that went under liquidation, data complied by company information service provider Opten shows.

There were 545 new construction companies registered in Hungary in October, while the number of voluntary and mandatory liquidations reached more than 512.

The number of mandatory liquidations climbed to more than 300 in October from 200-230 per month early in the year and 258 in October 2008, when the financial crisis hit the sector. The number of mandatory liquidations in January-October reached 2,785, 23.5% more than in the same period a year earlier.

The number of voluntary liquidations rose to 212 in October from 118 in the same month a year earlier. The number of voluntary liquidations in January-October climbed to 1,633 from 1,037 in the same period in 2008. (MTI-ECONEWS)