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Construction-sector liquidation procedures rise in May

Creditors initiated liquidation procedures against 342 companies in Hungary's construction sector in May, up 9.9% yr/yr and accelerating from an increase of 7.2% yr/yr in April, the company-information service Opten told MTI on Thursday.

The number of liquidation procedures initiated in May rose 8.7% yr/yr throughout all sectors of Hungary's economy.

The number of liquidations in the construction sector rose 12% yr/yr in the first five months of the year.

Voluntary liquidation procedures in the construction sector increased 51% yr/yr to 210 in May, compared to a rise of 23.4% yr/yr in all sectors of the economy last month.

The number of new construction-sector companies increased 23.6% yr/yr to 450 in May, compared to a rise of 6% yr/yr in all sectors of the economy. (MTI-ECONEWS)