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Hungary construction sector contracts 15.2% in May

Output of Hungary's construction sector fell 15.2% in May from the same month a year earlier according to both unadjusted and workday-adjusted data, the Central Statistics Office (KSH) said on Monday. 

Output of the building segment fell 17.1% in May. The civil engineering segment contracted 13.1%. In a month-on-month comparison, construction sector output dropped a seasonally and workday-adjusted 4.0% as the building segment contracted 7.2% and the civil engineering segment was down 2.0%.

Construction sector output was down 10.8% in January-May from the same period a year earlier. New order stock was up 29.1% in May from twelve months earlier. New orders in the building segment were up 6.9% and they climbed a sharp 45.2% in the civil engineering segment as the result of a low base. Total order stock edged up 2.9% in May from the same month a year earlier. Orders were down 16.1% in the building segment but up 15.1% in the civil engineering segment.