KSH: Construction output drops 26.6% in May, y-o-y

Construction

pexels

The volume of construction output in Hungary was down by 26.6% in May as compared to the same month a year earlier, Hungary’s Central Statistical Office (KSH) reported today. The one silver lining in otherwise glum construction report was a rise in new contracts.

According to KSH, the decline in construction – just as in the previous four months – was partly caused by the rush to use up EU funds by the end of 2015, which meant that last May was a very busy time for building and that there has been less construction since.

Output dropped in both main groups of construction: the construction of buildings dropped 4.4%, and civil engineering work was down 43.8%, KSH reported.

In the first five months, the volume of construction output was 27.9% lower than a year earlier, the report says.

The volume of new contracts was 15.0% higher than in the same period of the previous year: The volume of new contracts concluded for the construction of buildings and civil engineering works was up by 21.6% and 11.1% respectively, according to KSH.

ADVERTISEMENT

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auctio... Debt

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auctio...

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

MOL Signs Antwerp Declaration for a European Industrial Deal Deals

MOL Signs Antwerp Declaration for a European Industrial Deal

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

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.