However, seasonally and working day-adjusted figures showed a 4.6% increase from September, reflecting a monthly recovery in the sector.
The two primary segments of construction showed divergent trends. The construction of buildings decreased by 5.7% year-on-year, while civil engineering output rose by 7.5%.
Among construction divisions, production volume fell 9.4% in the construction of buildings and dropped 12.3% in civil engineering. In contrast, specialized construction activities, which account for the largest share of the sector, grew by 12.0%.
The volume of new construction contracts fell sharply, decreasing by 44.2% compared to October 2023. Within this, contracts for building construction dropped by 34.5%, while those for civil engineering works fell by 53.4%.
Despite the decline in new contracts, the volume of existing contract backlogs at construction enterprises grew by 31.8% year-on-year as of the end of October. This growth was driven by a 66.0% increase in contracts for civil engineering works, while contracts for building construction edged down by 2.2%.
For the first 10 months of 2024, Hungary’s construction output volume rose by 0.7% compared to the same period in 2023, indicating modest year-to-date growth despite mixed monthly performance.
The figures highlight contrasting dynamics within the sector, as civil engineering projects remain a bright spot while building construction faces headwinds. The decline in new contracts may signal challenges ahead, but the substantial backlog of civil engineering projects could provide stability in the near term.
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