Hungary’s construction output grows 35.4% in May
Hungary’s volume of construction output grew by 35.4% in May, as compared to the same month a year earlier, with the output increasing in both main construction groups: by 27.2% in the construction of buildings and by 46.7% in civil engineering works, Hungary’s Central Statistical Office (KSH) said today in a first release of data.
Growth in the construction of buildings was primarily the result of industrial and warehouse buildings and, to a lesser extent, sports facilities and educational buildings in May, KSH explains. In civil engineering, production grew from a low base, as a result of road and railway construction works, KSH adds.
Of the divisions of construction, output increased by 25.7% in the construction of buildings, by 51.9% in civil engineering and by 32% in specialised construction activities, as compared to the same month a year earlier, KSH said.
The volume of new contracts increased by 53.2% compared to the same period of the previous year. Within this, the two main groups of construction moved in opposite directions: the volume of contracts concluded decreased by 12% for buildings but grew by 99.5% for civil engineering works, KSH added.
The month-end volume of the stock of contracts of construction enterprises for May was 94.3% higher than the previous yearʼs low base, according to the KSH report. Within this, the volume of the stock of contracts was 38.5% higher for buildings and 132% higher for civil engineering works.
Construction output expanded by 7.5% in May, as compared to the preceding month, based on seasonally and working day adjusted indices. In the January-May period, the volume of construction output grew by 26.9%, as compared to a year earlier.
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.