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Construction Output Volume Falls in September

Construction

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Construction output volume in Hungary, based on raw data by the Central Statistical Office (KSH), was below the previous year’s level by 6% in September 2023.

The output of the two main groups of construction changed oppositely: the construction of buildings lessened by 9.5%, and that of civil engineering grew by 0.4%.

Among the divisions of construction, production grew by 19.8% in the construction of buildings, and by 3.7% in civil engineering. Production in specialized constructions, having the highest weight in construction decreased by 24.2%.

The volume of new contracts concluded decreased by 32%. Within it, the volume of contracts for the construction of buildings fell by 43.9%, and that of civil engineering lessened by 2.7%.

The volume of the end-of-September stock of contracts at construction enterprises lessened by 30.6% compared to the end-of-September 2022 level: within it the volume of contracts was down by 13.4% for the construction of buildings and decreased by 42.6% for civil engineering works, year-on-year.

Construction Output Down 4.7% y.o.y. in January-September

In the first nine months of 2023, construction output decreased by 4.7% compared to the same period of 2022.

In Q3 2023, within the divisions of construction, prices increased the most (by 13.9%) in the greatest weight-carrying specialized construction activities, while they went up in the construction of buildings and in civil engineering by 12.2 and 12.6% compared to Q3 2022. The price increase was caused principally by the rising costs, especially the growing wages and the increasing prices of several building materials.

Construction prices were 1.5% higher than in the previous quarter.

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