Construction Sector Output Falls 11.4% in January

Output of Hungary's construction sector dropped 11.4% year-on-year in January, data released by the Central Statistical Office (KSH) on Friday show.

Construction sector output slipped 9.6% when adjusted for the number of workdays.

Output of the buildings segment dropped 9.6%, while civil engineering output fell 14.5%.

In absolute terms, construction sector output reached HUF 396bn in January. The buildings segment accounted for 65% of the total.

In a month-on-month comparison, construction sector output declined 8.8%, adjusted for seasonal and workday effects.

Order stock was up 18.8% at the end of January compared to twelve months earlier. Buildings segment orders fell 3.6% but civil engineering orders surged 30.5%.

New order volume fell 6.0% during the period. New orders in the buildings segment dipped 14.5% and new civil engineering orders climbed 29.3%.