Construction Output in Hungary Down 3.6% y.o.y. in January
According to raw data published by the Central Statistical Office (KSH), the volume of construction output in January 2023 lagged behind the previous year’s level by 3.6%.
The output of both main groups of construction lessened: construction of buildings by 4% and that of civil engineering by 2.1%.
Among the divisions of construction, production decreased by 7.8% in the construction of buildings, by 0.7% in civil engineering, and by 1.9% in specialized constructions.
The volume of new contracts concluded was below the January 2022 high base by 28%; within it, the volume of contracts for the construction of buildings was 23.2% lower, while the volume regarding civil engineering declined by 36.2% year-on-year.
The volume of the end-of-January stock of contracts at construction enterprises lessened by 18.2% compared to the same period of the previous year; within it the volume of contracts was down by 2% for the construction of buildings and down by 29.6% for civil engineering works.
Based on seasonally and working day adjusted indices construction output was below the December level by 5%, KSH notes.
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