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Hungaryʼs construction output up 8.1% in December

Output in Hungaryʼs construction sector was up 8.1% year-on-year in December, rising 3.0% overall in 2015, according to a first release of data published by Hungaryʼs Central Statistical Office (KSH) today.

Regarding the output of the two main constructions groups, construction of buildings grew by 3.8%, while that of civil engineering works was up 13.6%. Over the the course of 2015, construction output was up by 3.0%, and producer prices rose on average by 2.5% compared to the previous year.

Based on seasonally and working day adjusted indices, construction output increased by 2.3% in December as compared to the previous month, according to KSH.

The production volume of the two main construction groups rose year-on-year in December. The production volume of buildings grew by 3.8% and that of civil engineering works by 13.6%, KSH said.

Out of the divisions of construction, output grew by 3.1% year-on-year in December in the construction of buildings and was up by 16.7% in the construction of civil engineering works. Output rose by 5.5% in the division of specialized construction works, accounting for more than 40% of the construction output, KSH noted.

The volume of new contracts increased 18.3% in December as compared to the previous year. Within this the volume of new contracts expanded by 28.1% in the construction of buildings and by 12.2% in the construction of civil engineering works.

Despite an increase in new contracts in the last four months, the month-end volume of the contract portfolio of construction companies remained lower than a year earlier, by 48% at the end of December, according to KSH.

Construction producer prices rose by 2.8% in Q4 of last year as compared to same period of the previous year. Prices increased by 3.3% both in the division of the construction of buildings and in the division of specialized construction works, which represents the greatest weight, while prices of civil engineering works rose by 1.8% compared to the same period in 2014. The observed subgroups of constructions saw price increases of between 1.9% and 3.5%, KSH reported.

Construction output increased by 3.0% in 2015, compared to the previous year with the construction of buildings growing by 4.8% and that of civil engineering works by 1.6%. The construction of civil engineering works increased significantly in the first half of 2015, but in the last months it lagged behind the previous year’s figure.

In 2015, the volume of new contracts signed by construction companies decreased by 7.3% compared to the previous year. Within this, new contracts for the construction of buildings rose by 5.6% while contracts for civil engineering works decreased by 15.2%.