The performance of the construction industry fell by almost 6.5% in a single month.
Orders are falling because both families and the government are spending less on investments.
The turnover of a commercial company connected to the construction industry fell by 20%, which was not helped by the home renovation program, even though the government promised multimillion-dollar subsidies and interest-free loans.
“We are experiencing a wait in the case of renovation product ranges, for example, we see that the demand for insulation materials has decreased this year compared to the previous year,” said Attila Juhász, chairman of the board of Újház Zrt.
“We believe that the economic revitalizing effect of this home renovation program will be due mainly in the autumn months,” he added.
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