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Construction sector output up 7.5% yr/yr in October

Output volume of Hungary's construction sector rose 7.5% in October compared to the same month a year earlier, according to both, working day-adjusted and unadjusted figures, the Central Statistics Office (KSH) reported on Monday.

Compared to September, output rose a seasonally- and working day-adjusted 2.4%. In January-October, output volume of the construction sector fell 1% from the same period a year earlier. At current prices, construction sector output was worth Ft 225.9 billion (€893 million) in October and it was worth Ft 1,688.6 billion in January-October. October construction output accelerated after a 4.8% fall in September and a 3.4% drop in August because of a low base. In October 2005, building sector output rose 11% year-on-year, well under the 18.8% rise for all of 2006.

This year, however, October was only the fourth month in which the sector expanded at all. In October, the civil engineering sector contracted 9.7% year-on-year, while the output of building constructions rose 25.7%. In January-October, the building construction segment expanded just 2.5% year-on-year and the civil engineering segment contracted 4.9%.

Construction orders were down 14.6% year-on-year in October, with new orders in the month down 42.9%. Civil engineering orders were down 20.5%, and new orders in the segment fell 45.3%. Orders for buildings fell 1.5%, including a 40.4% decline in new orders. Cost-based prices in the construction sector rose 8.3% year-on-year in October. (Mti-Eco)