Hungarian construction down 4.8% in April

Output of Hungary’s construction sector fell 4.8 per cent YoY in April 2012, data from the Central Statistics Office showed on Monday. The decline was slower than figures recorded in the month before and, according to some industry experts, there could be a return to growth next year.

The decline slowed from a steep 12.6 per cent contraction in March and a 15.2 per cent YoY fall in February. Part of the slower decline reflects a low base.

January-April output was down 9.3 per cent from the corresponding period in 2011.
Output of the building segment was down 3.4 per cent. This segment has contracted in a year-on-year comparison each month since February 2011.

Civil engineering dropped 6.4 per cent after falling 5.3 per cent in the previous month. The sector has also been contracting steadily apart from September and November-December 2011, registering double-digit growth in the latter two months.

According to estimates by Cembureau, the fall in Hungarian construction output might come to an end in 2012 and there could be a return to growth in 2013 (at the earliest).