Évosz noted that construction sector order stock was down 30pc mid-year compared to a year earlier, while new order volume dropped 37%. It added that the scale of the cyclical market's current swing hadn't been seen in a decade and that companies' strategy in the second half of the year would be "about survival".

"The government should categorically fill its role to even out demand on the construction market," the association said. It also pushed for the approval, as soon as possible, of legislation paving the way for the finalization of a 10-year state investment program.

Évosz said industry professionals want to see progress made on the upgrade of the Paks nuclear power plant, a country-wide home renovation program, a rental home construction scheme, water and sewerage reconstruction, big city transport infrastructure developments, railway improvements, intermodal logistics hubs, irrigation networks and environmentally-friendly energy generation and storage capacities.

It warned that the market for home construction and renovation would continue to contract without government intervention and "acceptable bank financing".