ADVERTISEMENT

Hungary Construction Output Volume Shrinks in March

Construction

Photo by JU.STOCKER / Shutterstock.com

According to raw data, the volume of construction output in March 2023 lagged behind the previous year’s level by 9.8%, with a higher output during the base period also playing a part in this trend, according to the Central Statistical Office (KSH).

Compared to March 2022, the output of both main groups of construction lessened: the construction of buildings by 13.2% and that of civil engineering by 1.6%.

Among the divisions of construction, production decreased by 21.8% in the construction of buildings, by 0.9% in civil engineering, and by 4.6% in specialized constructions.

The volume of new contracts concluded was below the March 2022 base by 31.8%; within it, the volume of contracts for the construction of buildings was 3.6% higher, and the volume regarding civil engineering declined by 54.1%.

The volume of the end-of-March stock of contracts at construction enterprises lessened by 27.9% compared to the same period of the previous year. The volume of contracts was down by 9.0% for the construction of buildings and lessened by 39.4% for civil engineering works.

Construction Output Down 9.2% y.o.y. in Jan-March

In the first three months of 2023, construction output decreased by 9.2% compared to January-March 2022.

In the first quarter, within the divisions of construction, prices increased the most in the greatest weight-carrying specialized construction activities (by 25.5%), and grew in the construction of buildings and in civil engineering by 23.8% and 22% compared to the same period of the previous year.

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

The first quarter’s construction prices were 4.8% higher than in the previous quarter.

MET Group Wins TXF 'Commodity Financing Deal of the Year' Energy Trade

MET Group Wins TXF 'Commodity Financing Deal of the Year'

Polish Unemployment Falls in April World

Polish Unemployment Falls in April

Gov't, Pharma Association Sign Cooperation Agreement Pharma

Gov't, Pharma Association Sign Cooperation Agreement

Tourism Nights Spent in Hungary Down Slightly in April Tourism

Tourism Nights Spent in Hungary Down Slightly in April

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.