Investments in construction gaining momentum
Investments in Hungary rose 26.8% year-on-year in volume terms in Q2 2017 from a low base one year earlier, the Central Statistical Office (KSH) reported today.
The KSH noted that, similarly to the previous quarter, growth was strong and affected nearly all branches. Business investments expanded and the realization of projects launched under the 2014-2020 EU funding cycle also gathered momentum, the stats office said. Investments rose by a seasonally adjusted 6.3% from Q1 2017. First-half investments were up 25.4% year-on-year, national news agency MTI reports.
Investments in machinery and equipment rose 21.1% in the second quarter and were up 21.6% in the first half of 2017 from a year earlier. Construction investments rose 32.5% in Q2 and were up 29.7% in H1.
Investments at companies employing at least 50 people rose 29.3%, while investments at budget-funded institutions jumped 56.1% in Q2 from a year earlier. The rises followed respective year-on-year contractions of 17.5% and 52.1% in Q2 2016.
Investments rose rapidly in H1 after a 20% drop in 2016. Last yearʼs drop came as projects for the 2007-2013 EU funding cycle were wound up in 2015 and projects for the 2014-2020 cycle had not yet materialized.
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