Hungaryʼs construction sector output growth slows to 5.1%

Construction

Output of Hungary’s construction sector saw a year-on-year rise of 5.1% in February, slowing from an 8% increase in the previous month, the Central Statistics Office (KSH) said today.

Output grew by 4.8% in the main group of construction of buildings and by 5.9% in civil engineering works, while in the first two months of the year, construction output increased by 6.4% compared to the same period of the previous year, KSH said.

KSH noted that output of both main construction groups increased: output of buildings by 4.8% and output of civil engineering works by 5.9%. The growth in the construction of civil engineering works – as in previous months – was related to road construction and railway reconstruction works as well as public utility projects running in several parts of the country, the office added.

Output rose by 1.8% in the division of construction of buildings and increased by 4.7% in the construction of civil engineering works, while output rose by 7.2% in the division of specialized construction works, accounting for more than 40% of construction output, KSH said.

The volume of new contracts was 40.7% lower, the office added. The volume of new contracts dropped by 16.8% in the construction of buildings and fell by 50.7% in the construction of civil engineering works compared to February 2014.

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