Construction Output Down 3.2% y.o.y. in April

Construction

According to raw data published by the Central Statistical Office (KSH), the volume of construction output in Hungary lagged behind the previous year’s level by 3.2% in April 2023.

Output of both main groups of construction lessened compared to April 2022: the construction of buildings by 4.4% and that of civil engineering by 1.3%.

Among the divisions of construction, production decreased by 4.9% in the construction of buildings. It increased by 1.3% in civil engineering and lessened by 4.4% in specialized constructions.

The volume of new contracts concluded was below the April 2022 base by 37.5%; within it, the volume of contracts for the construction of buildings was 33% lower, and the volume regarding civil engineering declined by 42.3%.

The volume of the end-of-April stock of contracts at construction enterprises lessened by 27.5% compared to the previous year: the volume of contracts was down by 4.3% for the construction of buildings and lessened by 41.2% for civil engineering works.

In the first four months of 2023, construction output decreased by 7.7% compared to the same period in 2022.

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