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Hungary construction sector down 12% yr/yr in September

Output of Hungary’s construction sector was down 12.0% in September from the same month a year earlier, reflecting the absence of major investment projects and a drop of home construction, the Central Statistics Office (KSH) said on Wednesday.

The September drop was little changed from a 12.3% yr/yr decline in August.

In a month-on-month comparison, output of the construction sector fell a seasonally- and workday-adjusted 2.0% after rising 1.6% in August.

Output of the building segment fell 23.0% year-on-year in September after falling 20.6% in August.

Output of the civil engineering segment was up 1.4% yr/yr after declining 0.1% in August. The rise came from a very low base but was still the first yr/yr rise in the segment since January 2010.

Output of the sector fell 10.6% in January-September from the same period a year earlier after a 10.4% decline in the full year of 2010.