Hungary’s construction output dropped 13.5pc yr/yr in January after a 6.2pc drop in December according to both adjusted and unadjusted figures, the Central Statistics Office (KSH) said on Thursday. Seasonally adjusted output fell 12.3pc after a rise in December.
Commenting the drop KSH noted that January output in the sector is about 60pc of the monthly average and January was more wet and cold than usual.
Output in the building construction segment was down a sharp 21.0pc yr/yr from an already low base a year earlier, and fell a seasonally adjusted 12.5pc from December.
Civil engineering output rose 1.2pc yr/yr after decreases in the previous two months. January output in the segment fell 9.4pc from December according to seasonally adjusted figures.
Except for March and June, construction output fell yr/yr each month of last year. Full-year output was down 4.3pc.