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Construction sector output falls 12.8 percent in November

Output of Hungary's construction sector dropped by an annual 12.8 percent in November, albeit from a high base, the Central Statistical Office (KSH) said on Monday.

Output of the buildings segment fell by 18.3 percent and civil engineering output slipped 3.5 percent.

In absolute terms, construction sector output reached 747 billion forints (EUR 2bn) in November. The buildings segment accounted for 58 percent of the total.

In a month-on-month comparison, construction sector output fell by 2.6 percent, adjusted for seasonal and workday effects.

Order stock was 21.2 percent lower at the end of November than twelve months earlier. Buildings segment orders were down by 15.6 percent and civil engineering orders dropped by 25.3 percent.

New orders jumped 60.3 percent during the period. New orders in the buildings segment slipped 19.5 percent but new civil engineering orders climbed 186 percent. The increase is owing to high vaule contracts for traffic infrastructure developments.

Construction sector output fell by 5.3 percent in January-November from the base period.

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