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Construction sector output falls 8.1% yr/yr in June

The output volume of Hungary's construction sector fell 8.1% in June compared to the same month a year earlier, according to unadjusted figures published by the Central Statistics Office (KSH) on Monday. The KSH blamed the decline on a high base and a fall in road construction orders.

Construction sector output fell a working day-adjusted 7.1% during the same period. Compared to May, output rose a seasonally and workday-adjusted 3.3%. In the first half of 2006, the output volume of the construction sector slipped 1.7%.
Construction sector output was worth Ft 198.3 billion in June at current prices. The sector was worth Ft 833.8 billion in the first half of 2006. Prices in the construction sector rose 8.1% year-on-year in June, increasing 1.8 percentage points more than the increase in domestic sales prices for the manufacturing sector as a whole. Prices increased 6.1% year-on-year in the construction sector in H1 2006. In the biggest construction industry segment, building and other construction, production was down 11% in June compared to the same month a year earlier. First-half output fell 1.6% year-on-year.
Output of the building installation branch decreased 4% year-on-year in June and was down 3.1% year-on-year in H1 2006. Output of the building completion branch rose 2.7% year-on-year in June and fell 2.1% year-on-year down in H1 2006. First-half building construction branch output was worth Ft 467 billion, down 2.1% year-on-year. Output of the building and other construction branch fell 1.3% year-on-year in H1 2006, but was down a steeper 20.1% year-on-year in June. Output value of the building construction branch output, however, rose 4.1% in June. The construction sector's total stock of orders was worth Ft 1,281.1 billion at the end of June, up 0.7% year-on-year. Stock of orders for the building construction branch were worth Ft 446.4 billion, up 32.1% year-on-year, and orders in the "other constructions" branch fell 10.6%.