Hungary’s construction output picks up 1.9% y/y in July 2013

By bne IntelliNews September 17, 2013

Hungary’s construction output grew by 1.9% y/y in both unadjusted and working day-adjusted terms in July 2013, extending an upward trend that started in February 2013, data from the statistics office showed.

However, in seasonally-adjusted terms, the output fell 1.6% m/m in July, after stagnating in June 2013.

The annual growth was due to low base effects and the growth in construction of buildings, the statistics office said.

The output of buildings advanced by 3.4% y/y, while the civil engineering sector witnessed a 0.6% y/y drop in the month.

The volume of new construction orders increased by 34.9% y/y, pushed up by a 52.8% y/y rise in the civil engineering division and a 1.6% y/y rise in the building construction.

The total stock of orders at end-July 2013 was 19% higher on the year, while a month earlier it rose by 11.7% y/y.

In cumulative terms, the construction output grew 6.2% y/y in Jan-Jul 2013.

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