Hungarys construction sector rebounds in July 2012.

By bne IntelliNews September 18, 2012
After contracting for eight months in a row, Hungarys construction output increased by 7.6% y/y in both unadjusted and working-day adjusted terms in July 2012, data from the statistics office showed. The growth, partly due to the very low base last year, was supported by several road construction, railway modernisation and public utility projects. The seasonally-adjusted output advanced by 8.6% m/m in July, following declines in the previous two months. The output in building construction edged up by 0.1% y/y in July, after plunging by 21.8% y/y in June. The output in the civil engineering sector increased by 27.3% y/y. Specialised construction works were down 0.5% y/y in July, decreasing for the eight month in a row. In terms of volume, the construction of buildings slipped by 0.3% y/y but the civil engineering works grew by 15.5% y/y. The volume of new orders increased by 3.3% y/y on the back of a 11.6% y/y increase in building construction and a 1.8% y/y growth in civil engineering. The total stock of orders as of end-July was 0.7% higher on the year, while a month earlier it was 5.5% higher than at end-June 2011.
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