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Construction Sector Output Falls 3.4 % in March

MTI-Hungary Today 2020.05.14.

The output of Hungary’s construction sector fell by 3.4 percent year on year in March, the steepest decline in more than three years, as the government introduced movement restrictions because of the coronavirus pandemic, data released by the Central Statistical Office (KSH) on Thursday show.

Output of the buildings segment edged up by 0.3 percent but civil engineering output dropped by 10.0 percent, albeit from a high base, KSH said.

In a month-on-month comparison, construction output fell by 5.2 percent, adjusted for seasonal and workday effects.

For the period January-March output was down by 0.1 percent year-on-year.

In absolute terms, output stood at 350.5 billion forints in March and was 817.1 billion forints in the first quarter.

Order stock in the sector was down by 16.3 percent at the end of March from twelve months earlier. Stock rose by 2.7 percent in the buildings segment but dropped 24.4 percent in the civil engineering segment.

New order volume was down by 9.9 percent as new orders for buildings plummeted 31.4 percent but civil engineering orders were up by 18.9 percent.