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Hungary construction sector output down 10.1%

Hungary's construction output decline slowed to 10.1% yr/yr in February from 13.5% yr/yr in January according to both unadjusted figures and adjusted with working days, the Central Statistics Office (KSH) said on Thursday. Seasonally adjusted output grew 6% m/m after a fall of 11% in January.

Commenting the yr/yr drop KSH noted that January and February output in the sector is about 60% of the monthly average.

Output in the building construction segment was down 14.2% yr/yr after a sharp 21% yr/yr drop in January from an already low base a year earlier.

Civil engineering output fell 2.3% yr/yr after a rise of 1.2% yr/yr in January which followed decreases in the previous two months.

Except for March and June, construction output fell yr/yr each month of last year. Full-year output was down 4.3%, the decrease in December was 6.2%.

New orders in February were up 38% yr/yr after a rise of 21.6% in January, thanks to large public orders, and stock of orders was up 13,7% after a plus of 22.3% in January. (MTI-ECONEWS)