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Construction sector output falls by 9.8 percent in March

Output of Hungary's construction sector slipped by 9.8 percent year-on-year in March, falling for the fourth month in a row, albeit at a slower pace, data released by the Central Statistical Office (KSH) on Monday show.

Output of the buildings segment dropped by 13.2 percent and civil engineering output edged down by 1.6 percent.

In absolute terms, construction sector output reached 600.3 billion (EUR 1.6bn) forints in March. The buildings segment accounted for 66.8 percent of the total.

In a month-on-month comparison, construction sector output fell by 1.2 percent, adjusted for seasonal and workday effects.

Order stock was 27.9 percent lower at the end of March than twelve months earlier. Buildings segment orders were down by 9.0 percent and civil engineering orders declined by 39.4 percent.

New orders dropped by 31.8 percent during the period. New orders in the buildings segment declined 3.6 percent and new civil engineering orders plunged 54.1 percent.


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