Construction sector output continues to fall in November

Budapest, January 16 (MTI) – Hungary’s construction sector output fell by an annual 14.4 percent in November 2016, now falling for the eleventh month in a row, data released by the Central Statistical Office (KSH) on Monday show.

The decrease in output in November was somewhat larger than the 12.8 percent annual fall in October 2016.

KSH attributed the November drop to the high base and projects that wound up at the end of 2015, the deadline for spending grants available during the previous European Union funding cycle. Utilities companies were the ones that cut back the most on new construction.

Output of the buildings segment was down by 2.5 percent and civil engineering output dived 25.7 percent.

In absolute terms, construction sector output reached 187.2 billion forints (EUR 609m) in November.

Construction sector output fell by 19.2 percent in the first eleven months of 2016 as output in the buildings segment declined by 3.4 percent and civil engineering output was down by 33.7 percent.