KSH: Hungary’s construction output plummets 33.9%
pexels
The volume of construction output in Hungary plummeted 33.9% in March as compared to the same month a year earlier, with the output of both main groups of constructions decreasing, the Hungarian Central Statistical Office (KSH) reported today. The volume of new contracts, however, was 47.3% higher than the low base in the previous year.
The construction of buildings fell 18.8%, while that of civil engineering works dropped substantially by 52.4%, according to data published by KSH. The decline in production - just as in the previous two months - was partly caused by the completion of works realized through EU funds at the end of 2015 and partly by the high base, KSH explained.
Out of the various divisions of construction, output fell by 20.8% in the construction of buildings and was down 67.2% in the construction of civil engineering works, while output dropped by 15.9% in specialized construction works, KSH said.
In the period of Janurary-March, the volume of construction output was 27.6% lower than a year earlier, KSH reported, adding that in the first quarter, construction producer prices rose 2.5% compared to the same period of the previous year.
Lenders' Home Loan Outlays at HUF 344 bln in H2 2023
Gov't Awards HUF 6.5 bln of Subsidies to SMEs in Underdevelo...
Hungary's Largest ESG Consultancy Formed by Merger of EY, De...
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
