Hungary’s construction sector output dropped by an annual 14.9% in December last year, falling for the twelfth month in a row, the Central Statistical Office (KSH) said. The December drop in output was almost unchanged from the 14.7% annual 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 a month-on-month comparison, construction sector output grew by 1.4% in December according to figures adjusted for seasonal and workday effects. Output of the buildings segment was down by 5.8% and civil engineering output dived 25.5%. In absolute terms, construction sector output reached 214.8 billion forints (EUR 695 million) in December. Construction sector output dropped by 18.8% in 2016 as output in the buildings segment declined by 3.7% and civil engineering output was down by 33%.