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Construction sector decline accelerates in December

Output of Hungary's construction sector fell 12.3% in December yr/yr after declining a revised 1.5% in November, the Central Statistical Office (KSH) said on Wednesday.

The decline – the same according to both unadjusted and workday-adjusted figures – slowed from a 12.4% drop yr/yr in October. The twelve-month drops widened after narrowing to 4.5% in July. The last twelve-month increase, of 15.1%, was registered in June 2009.

In a month-on-month comparison, the sector's output fell a seasonally-adjusted 4.0% in December after adding 2.1% in November. It fell 2.5% in October and 2.9% in September, after monthly increases in July and August.

Producer prices in construction were up 1.6 % yr/yr in Q4 2010, KSH said.

Construction sector output slipped 10.1% last year. The sector's output volume dropped 4.3% in 2009; output fell each year since 2006.

Output of the buildings segment fell 3.7 yr/yr in December after increasing 6.4% in November. Annual output of the segment dropped 5.2%. Month-on-month the drop was 0.1% and 6.4% respectively in December.

December output of the civil engineering segment dropped 21.3% yr/yr after falling 8.1% in November, largely due to a decline of road construction. Output over the whole year dropped 15.2%.

Construction sector order stock was down 13,3% in December yr/yr after down 11.2% in volume terms in November, declining for the fifth month in a row after rising since March 2009.

New orders fell 27.9% in December yr/yr after loosing 23.4% in November. (MTI-Econews)