Construction sector output up 20.5% in October
Output of Hungaryʼs construction sector climbed 20.5% year-on-year in October, Hungarian news agency MTI says, citing unadjusted data released by the Central Statistical Office (KSH).
Output of the buildings segment was up 18.8%, lifted by construction of residential, cultural and industrial buildings, KSH said. Civil engineering output rose 22.3%, helped by road and railway developments.
In a month-on-month comparison, construction output rose 3.2%, adjusted for seasonal and workday effects.
For the period January-October, output was up 27% year-on-year.
In absolute terms, output stood at HUF 444 billion in October and HUF 3,547.9 bln in the first ten months.
Order stock in the sector was down 10.1% at the end of October from twelve months earlier. Stock rose 40.6% in the buildings segment but was down 21.7% in the civil engineering segment.
New order volume was up 2.7% as new orders for buildings fell 2.8% and civil engineering orders were up 8.5%.
Analysts interviewed by MTI said the construction sector had started the fourth quarter well and should make a significant contribution to economic growth.
Gábor Regős of Szazadveg Institute said full-year construction sector output growth could come close to 25% and the sectorʼs output should continue to grow in 2020, albeit at a slower pace.
András Horváth of Takarékbank said the sectorʼs output could grow by almost 30% in 2019 and about 10% next year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.