Hungary construction output growth dwindles in March, new orders plummet - Stats

The KSH detected a 0.5% from February, against a 3.5% m/m increase in the previous month (revised downward from 4.1%), according to data adjusted seasonally and by working days.

In the first quarter, construction output expanded by 3.3% yr/yr.

The stock of orders at the end of March was down by more than 30% from a year earlier. Following a 4.4% rise at buildings in Feb, the KSH detected a 1% yr/yr decline in the stock of orders here. At civil engineering the stock of orders shrunk by 45%, slightly less than a month earlier.

While construction companies signed 6.4% more new orders in February, there was a massive 43.9% yr/yr plummet here in March. At buildings and civil engineering, there was a respective 28.3% and 62.5% plunge observed here, against a respective rise of 9.3% and 2.4% in Feb. The stock of orders was down 42% yr/yr in Jan-Mar.

The value of construction industry production was HUF 148.6 billion in March, up from HUF 111.4 bn in February and HUF 132.5 bn in March 2006. The Q1 output totalled HUF 374.2 bn.

The building of complete constructions jumped by 10.1% yr/yr in March, up from a 1.8% increase in Feb, but down from a rise of 13.5% in the same month of 2006.

In building installations the statistics office recorded a 10% decline against a 26% leap in the previous month and a 21.6% growth in March 2006.

Building completion dipped by 5.4% yr/yr, versus a 14.5% rise in Feb and 12.7% increase in March 2006.

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