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Hungary construction sector decline accelerates to 12.2% in October

Output of Hungary's construction sector fell 12.2% in October from the same month a year earlier, the Central Statistical Office (KSH) said on Thursday.

The decline – the same according to both unadjusted and workday-adjusted figures – accelerated from a 9.2% drop in September. Output of the sector fell 1.9% in August and plunged 19.7% in June in a year-on-year comparison.

In a month-on-month comparison, the sector's output fell a seasonally-adjusted 2.5% in October, about the same as the 2.8% drop in September.

Construction sector output slipped 10.7% in January-October from the same period a year earlier.

Hungary's construction sector has contracted every year since 2006. Output fell 4.3% in 2009. (MTI-Econews)