Hungarian Construction Sector Output Contraction Slows Down in March

Hungary's construction output decline slowed down to 5.8pct yr/yr in March from 10.1pct yr/yr in February according to both unadjusted figures and adjusted with working days, the Central Statistics Office (KSH) said on Monday.

Seasonally- and workday-adjusted output rose 5.5pct month/month after a 6pct rise in February.
Output in the building construction segment was down 9.8pct yr/yr after a 7.8pct yr/yr drop in February.
Civil engineering output fell 18.4pct yr/yr after a 17pct yr/yr drop in February.
Construction sector output in January–March was down 10.2pct from a year earlier.
Except for March and June, construction output fell on each month of last year. Full-year output was down 4.3pct.
New orders in March were up a steep 35.3pct yr/yr after a 38pct yr/yr rise thanks to large public orders in February. The stock of total orders was up 11.1pct after a 13.7pct rise in February.
The volume of new contracts signed in March was 35.3pct higher than last year. Within that, contracts for buildings rose by 61.1pct, while other construction rose by 12.7 pct. Growth is due to contracts for individual retail, campus, health-care and motorway-adjacent buildings with high value.  

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