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Construction output rises 15.9% in June after two months of declines

Output of Hungary's construction sector rose 15.9% in June from the same month a year earlier, according to both unadjusted and workday-adjusted figures, increasing after two months of declines, the Central Statistical Office (KSH) said.

The twelve-month increase followed a 9.6% fall in May and an 8.0% decline in April.

KSH attributed the June rise in equal part to a low base and a marked 75.3% expansion in the civil engineering segment.

In a month-on-month comparison, construction sector output rose 12.3% in June following a 2.6% decrease in May, according to seasonally- and workday-adjusted data.

Output in January-June was HUF 854.1 billion at current prices, down 1.9% from the same period a year earlier.

In H1, output of the building construction segment slipped 1.0%, output of the civil engineering rose 32.4% and output of the specialized construction branch fell 17.4%.

New orders for construction work were down 32.0% in June from the same month a year earlier, falling for the first time in four months. Orders placed in the first half fell 10.5% under the level in the same period a year earlier. Total order stock was HUF 780.4 billion in June, up 28.8% from twelve months earlier. Building orders were up 28.5% and civil engineering orders rose 29.0%.

Producer prices in the construction sector climbed 3.7% in Q2 from the same period a year earlier as prices in the building construction segment grew 4.0% and prices in the civil engineering segment increased 3.4%. (MTI – Econews)