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Hungary construction sector decline slows to 4.4% in May

Hungary's construction sector fell 4.4% in May yr/yr, slowing from a 15.5% drop in April and a 10.9% decline in March, the Central Statistics Office (KSH) said on Friday.

The buildings segment fell 7.3% yr/yr in May, after dipping 13.3% in April. The value of output at current prices was HUF 70.3 billion after HUF 60.2 billion in April. Output of the civil engineering segment dropped 1.5% yr/yr, after falling 18.1% in April. The segment was also worth HUF 70.3 billion at current prices after HUF 51.8 billion in April.

In a month-on-month comparison, construction sector grew a seasonally- and workday-adjusted 6.4% in May, after falling 5.8% in April and 2.9% in March.

Output fell 8.3% in January-May from the same period a year earlier.

Stock of construction sector orders was down 34.8% yr/yr at the end of May. It was down 32.4% at the end of April. Order stock was worth HUF 573.4 billion at current prices, after HUF 601.1 billion at the end of April.

New orders signed in May were 4.1% less yr/yr, after thinning 30.0% in April. The new orders were worth HUF 110.6 billion at current prices after HUF 75.7 billion in April.

New orders in the building segment were down 19.9% yr/yr after dropping 45.5% in April. They were worth HUF 46.7 billion at current prices after HUF 29.9 billion in April. New orders in the civil engineering segment increased 12.1% yr/yr, after losing 14.3% in April. They reached HUF 63.9 billion at current prices after HUF 45.8 billion in April.