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Construction industry assoc augurs sector stagnation amid war

Construction

Hungarian construction industry association ÉVOSZ projects the sector will stagnate this year because of the impact of the war in Ukraine, according to a report by state news wire MTI.

Presenting the results of a fresh industry survey, ÉVOSZ said state orders are expected to fall by around HUF 500 billion, while household orders remain flat.

Early in the year, ÉVOSZ had forecast the construction sector would expand 5-6% in 2022.

The ÉVOSZ survey shows that one-third of construction companies expect business to grow, while 27% augur stagnation and 40% see their contract volume declining.

Companies calculate with a 25% increase in building material prices this year, while delivery costs are seen climbing 23%.

Almost half of companies expect profit margins to narrow.

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