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Hungary construction sector contraction slows to 10.6% in May

Output of Hungary's construction sector fell 10.6% in May from the same month a year earlier, slowing from a 15.7% drop in April, the Central Statistical Office (KSH) said.

In a month-on-month comparison, the sector's output rose a seasonally-adjusted 0.9% in May, compared to an 8.1% drop in April.

Construction sector output slipped 11.6% in January-May from the same period a year earlier.

In a breakdown of the sector, KSH said output of the building construction segment slipped 1.5% in May from the same month a year earlier, while that of the civil engineering segment plunged 18.7%. In a month-on-month comparison, building segment output rose 2.7% in May, while the civil engineering segment fell 1.4%. In January-May, the building segment contracted 9.8% and the civil engineering segment shrank 13.8% compared to the same period a year earlier.

New construction sector orders signed in May were down 25.8% from the same month a year earlier as new orders in the building construction segment dropped about 20% and fell 30.6% in the civil engineering segment. For January-May, new construction sector orders were up 6.2% from the same period a year earlier.

Total order stock of the construction sector at the end of May was 3.2% higher than twelve months earlier. Orders were up 5.4% in the building construction segment and 2.1% higher in the civil engineering segment. (MTI – Econews)