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Hungary construction output down 16% yr/yr in January

  Output of Hungary’s construction sector fell 16.0% in January from the same month a year earlier according to both unadjusted and workday-adjusted figures, the Central Statistics Office (KSH) on announced on Thursday.

In a month-on-month comparison, construction sector output fell 13.8% from December 2008, according to seasonally- and workday-adjusted data.

KSH noted that beside recessionary effects, the drop also reflected lower temperature compared to January 2008. January output contributes just 5% of the sector’s annual production.

The construction of buildings fell 17.6% yr/yr in January while output of the civil engineering segment dropped 8.7% in volume terms in twelve months according to seasonally and calendar-adjusted figures.

The order stock of construction sector companies was 13.5% lower at the end of January 2009 than a year earlier. Orders held for buildings dropped 50.9% and civil engineering contracts were practically unchanged, dropping a mere 0.1%.

Orders received in January were 35.7% in volume terms, including a 13.3% volume drop of contracts for buildings and a 48% decline in civil engineering orders.

Construction output volume decreased 6.3% in 2008, including a 9.5% decline in the building construction segment and a slight 0.1% increase in the civil engineering segment, KSH figures drawn up in line with a new revised statistical classification of economic activities in the European Union, with a shorter name NACE Rev 2.

The new classification included businesses involved in the financial and technical organization of building projects in the construction sector. (MTI-Econews)