According to the KSH data, the downturn in the construction industry continued as output in March contracted 12,6% year-on-year, the Central Statistics Office KSH announced. Compared to February output was up by 0,1%. In the first three months, the sector's performance shrank by an annualized 11,6%.
Construction of buildings fell 26,4% year-on-year while construction of other facilities rose 12,4%. The increase is explained by the weak base figure of 2011, Napi Gazdasag wrote, adding that new orders do not look promising. The volume of new orders signed was down 1,3% year-on-year, while volume of total orders declined 16,8%.
Prices in the sector rose an annual 2,1%, below the rate of inflation, according to the KSH figure.
Source: http://www.xpatloop.com/news/construction_sector_in_deep_recession_in_hungary