Decline Of Construction Sector Output Slows To 16.2% In June
- 12 Aug 2016 9:00 AM
Output of Hungary’s construction industry fell by an annual 16.2% in June, the Central Statistical Office said. The pace of the decline slowed from 25.8% in May and 30.0% in April. Output of the buildings segment rose by 7.4%, mainly on the construction of industrial buildings, but also lifted by the construction of schools and sports facilities.
Output of the civil engineering segment dropped 36.8% because of projects that were wound up at the end of last year, the deadline for spending grant money available during the last European Union funding cycle. In a month-on-month comparison, construction sector output rose by 7.5%, adjusted for seasonal and workday effects.
For the first half, construction sector output dropped 25.3% year-on-year. In absolute terms, output of the construction sector came to 172.3 billion forints (EUR 555.7m) at current prices in June.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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