Hungary construction sector output down 7.8 pc in October

Budapest, December 16 (MTI) – Output of Hungary’s construction sector fell by an annual 7.8 percent in October, the Central Statistical Office (KSH) said on Wednesday.

The drop followed an 8.1 percent growth in the preceding month.

Output of the buildings segment rose by 18.4 percent in October but output of the civil engineering segment slumped by 23.5 percent.

In absolute terms, construction sector output came to 194.83 billion forints (EUR 617.2m).

In a seasonally and workday-adjusted month-on-month comparison, construction sector output declined by 7.6 percent.

Order stock of construction sector companies was down by 47.5 percent at the end of October compared to twelve months earlier.

New orders signed during the month rose by 4.1 percent as new orders in the buildings segment jumped by 83.4 percent but new orders in the civil engineering segment were down by 37.1 percent.

The increase in new building construction contracts is due to orders for sports facilities and industrial buildings, KSH said.