New Orders Down Dramatically: Construction Sector Falls 6% Overall this September in Hungary
- 14 Nov 2023 12:14 PM
- Hungary Matters
Output of Hungary’s construction sector fell by 6.0% year-on-year in September, after edging down 0.1% in the previous month, data released by the Central Statistical Office (KSH) show.
Output of the buildings segment dropped by 9.5% but civil engineering output edged up by 0.4%. In absolute terms, construction sector output reached 732 billion forints (EUR 1.9bn) in September.
The buildings segment accounted for 60% of the total. In a month-on-month comparison, construction sector output slipped by 1.8%, adjusted for seasonal and workday effects.
Order stock was 30.6% lower at the end of September than twelve months earlier.
Buildings segment orders were down 13.4% and civil engineering orders dropped by 42.6%. New orders fell by 32.0% during the period.
New orders in the buildings segment were down 43.9% and new civil engineering orders decreased by 2.7%.
Construction sector output fell by 4.7% in January-September from the base period.
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