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UPDATE - Hungary construction sector decline accelerates to 15.4% in July

Output of Hungary's construction sector fell 15.4% in July from the same month a year earlier, dropping at a faster rate than the 13.9% decline in June, the Central Statistics Office (KSH) said on Friday.

Output of the building segment fell 14.9% year-on-year to HUF 69.2 billion in July after falling 17.2% in June. Output of the civil engineering segment dipped 18.3% to HUF 67.5 billion after declining 10.5% in June.

In a month-on-month comparison, output of the construction sector fell a seasonally- and workday-adjusted 0.8% after declining 5.6% in June.

Output of the sector fell 10.6% in January-July from the same period a year earlier.

Stock of construction sector orders was down 37.4% at the end of July from twelve months earlier. Order stock was HUF 558.6 billion at current prices.

The value of new orders signed in July reached HUF 124.6 billion, down 8.0% from twelve months earlier. New orders in the building segment were down 17.7% at HUF 47.9 billion. New orders in the civil engineering segment fell 0.7% to HUF 76.6 billion.