Output of the civil engineering segment dropped by 31.8% because of projects that 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 fell by 3.2%, adjusted for seasonal and workday effects. In January-July, construction sector output dropped by an annual 24.1%. In absolute terms, output of the construction sector came to 148.4 billion forints (EUR 479m) at current prices in July.

The sector’s stock of orders was up by 16.6% at the end of July from a low base a year earlier. Buildings segment order stock was up by 63.5%, but civil engineering orders were down by 2.5%. New orders were down by 3.1%, including an 88.2% increase in the buildings segment and a 41% fall in the civil engineering segment.

Republished with permission of Hungary Matters, MTI’s daily newsletter.