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Hungary construction sector declines 5.3% in August

Output of Hungary's construction sector fell 5.3% in August from the same month a year earlier, according to both unadjusted and workday-adjusted data, the Central Statistics Office (KSH) said on Monday.

The decline followed a 7.6% increase in the previous month, only the second year-on-year rise since June 2009. Output of the building segment fell 10.8% in August. The civil engineering segment grew 1.0% from a year earlier.
In a month-on-month comparison, construction sector output fell a seasonally and workday-adjusted 5.3%. Output of the building segment fell 4.6% and the civil engineering segment edged down 0.8%.
The construction sector contracted 7.0% in January-August from the same period a year earlier after a full-year decline of 7.9% in 2011. Hungary's construction sector output has fallen every year since 2006.
New order stock was up 0.5% in August from twelve months earlier. New orders in the building segment totalled HUF 44.6 billion in nominal terms, and were down 20.0% in volume terms. In the civil engineering segment, new orders were worth HUF 68.3 billion, climbing 20.7% in volume terms. Total order stock rose 3.5% in August from the same month a year earlier. Orders were down 16.1% in the building segment but up 14.8% in the civil engineering segment.
Output in the building segment was worth HUF 72.5 billion in August and civil engineering output was worth HUF 74.5 billion. Total order stock held at the end of August totalled HUF 163.3 billion in the buildings segment and total order stock in the civil engineering segment reached HUF 388.5 billion.