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Hungary construction sector decline slows to 12.3% in August

Output of Hungary's construction sector fell 12.3% in August from the same month a year earlier, dropping at a slower rate than the 15.4% yr/yr decline in July, the Central Statistics Office (KSH) said on Monday.

In a month-on-month comparison, output of the construction sector rose a seasonally- and workday-adjusted 1.6% after declining 0.7% in July.

Output of the building segment fell 21.5% year-on-year to HUF 80.1bn in August after falling 14.9% in July. Output of the civil engineering segment was down 2.6% to HUF 72.2bn after declining 18.3% in July.

The changes in the pace partly reflected base effects in both segments.

Output of the sector fell 10.9% in January-August from the same period a year earlier, after a 10.4% decline in the full year of 2010.