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Hungary's construction sector output up 4.1% on year

Data from Hungary's Central Statistical Office (KSH) shows that the country's construction sector output rose by 4.1% year-on-year in May 2007 according to unadjusted data, and increased 5.2% year-on-year in working-day adjusted data, as a slight drop in road and motorway building activity was offset by increasing building construction, Interfax reported.

In the first five months of the year, construction output in Hungary was 1.9% higher than in the same period of the previous year, accelerating somewhat from 1.2% year-on-year growth in the first four months. According to seasonally- and working-day adjusted figures, construction output increased by 3.5% in May, compared to April. Within the total, the volume of building construction increased by 8.1% year-on-year in May and by 3.4% year-on-year in the first five months. At the same time, civil engineering works – a category dominated by road building and renovation - were down 0.6% year-on-year in May after an even bigger decline in April, and were virtually flat year-on-year in the January–May period, it was reported.

Figures on construction industry orders indicate that this diverging trend, as well as an overall slowdown in the construction sector, may continue in the following months. While outstanding order stock for buildings was 8.9% lower in May than a year earlier, the stock of civil engineering orders fell by 44.9%, over the same period, according to the KSH. (