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Construction sector contraction accelerated to 19.7% in June

Output of Hungary's construction sector fell 19.7% in June from a year earlier, accelerating from a drop of 10.3% yr/yr in May and a 15.9% slide in April, the Central Statistical Office (KSH) said.

In a month-on-month comparison, the sector's output decreased a seasonally-adjusted 2.3% in June after growing 1.1% in May, and dropping 6.6% in April. KSH revised the figures for previous months.

Construction sector output slipped 13.8% in H1 from H1 2009.

In a breakdown of the sector, KSH said output of the building construction segment slipped 17.2% yr/yr in June after growing 2.4% in May, while that of civil engineering plunged 28.2% after a drop of 25.7% in May.

In H1, the building segment contracted 10.4% and the civil engineering segment shrank 20.6% compared to the same period a year earlier.

New construction sector orders signed in June were up 4.2% yr/yr after dropping 25.8% in May

Total order stock of the construction sector at the end of June was 0.5% higher than twelve months earlier. (MTI – Econews)