Budapest, February 13 (MTI) – Hungary’s construction sector output fell by 14.9 percent year-on-year in December 2016, now falling for the twelfth month in a row, data released by the Central Statistical Office (KSH) on Monday show.
The December decrease in output was almost unchanged from the 14.7 percent year-on-year fall in November 2016.
KSH attributed the December drop to projects that wound up at the end of 2015, the deadline for spending grants available during the previous European Union funding cycle. Road, railway and utilities construction companies were the ones that showed the biggest drop in output.
In absolute terms, construction sector output reached 214.8 billion forints (EUR 697m) in December.