Construction Output Volume up 1.6% y.o.y. in Hungary

Construction

The volume of Hungary's construction output in September 2022 was about 1.6% higher than a year ago, according to raw data published by the Central Statistical Office (KSH).

Out of the main groups of construction, the output of construction of buildings increased by 3.3%, that of civil engineering fell short by 0.5%, compared to September 2021.

Among the divisions of construction, production decreased by 7.5% in the construction of buildings, and civil engineering output declined by 8.2%. Specialized construction production rose by 13.1%.

The volume of new contracts concluded was below the September 2021 base by 20.9%. The volume of contracts for the construction of buildings was 5.8% lower, and the volume regarding civil engineering lessened by 34.4% compared to the previous year.

The volume of the end-of-September stock of contracts at construction enterprises was 8.2% below the end-of-September 2021 level, within it the volume of contracts was down by 15% for the construction of buildings and lessened by 3.6% for civil engineering works compared to the same period of the previous year.

Jan-Sep Construction Output up 4.8%

In the first nine months of 2022, construction output rose by 4.8% compared to the same period in 2021.

In the 3rd quarter, within the divisions of construction, prices increased by a similar rate (28 and 27.7%) in the construction of buildings and in the greatest weight carrying specialized construction activities, and they grew by 22.1% in civil engineering compared to the third quarter of 2021.

The price increase was caused principally by the rising costs, especially the significant price hike of several building materials, KSH explains.

Construction prices in Q3 were 5.2% higher than in the previous quarter.

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