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Hungary construction sector decline accelerates to 13.9% in June

Output of Hungary's construction sector fell 13.9% in June from the same month a year earlier, dropping at a faster rate than the 5.2% decline in May, the Central Statistics Office (KSH) said on Monday.

Output of the building segment fell 17.2% year-on-year to HUF 76.5 billion in June after falling 7.9% in May. Output of the civil engineering segment dipped 10.5% to HUF 78.4 billion after declining 2.3% in May.

In a month-on-month comparison, output of the construction sector declined a seasonally- and workday-adjusted 5.6% after rising 5.5% in May. The sector contracted in the March and April.

Output of the sector fell 9.6% in January-June from the same period a year earlier.

Stock of construction sector orders was down 36.2% at the end of June from twelve months earlier. Order stock was worth HUF 543.3 billion at current prices.

The value of new orders signed in June reached HUF 116.4 billion, down 6.5% from twelve months earlier. New orders in the building segment were down 14.7% at HUF 52.3 billion. New orders in the civil engineering segment edged up 1.5% to HUF 64.1 billion.