KSH: Hungary’s construction output dives 20.1% in January
The volume of Hungaryʼs construction output was down 20.1% in January as compared to the same month a year earlier, with the output decreasing in the two main groups of construction: the construction of buildings fell by 12.6% and that of civil engineering works by 28.5%, Hungary’s Central Statistical Office (KSH) said this morning in a report.
According to KSH, the decline in the figure was partly caused by the completion of works performed from EU funds at the end of last year and partly by the high base. KSH noted that the production of businesses dealing with road, railway and utility construction works decreased the most.
In a year-on-year comparison, based on seasonally and working day adjusted indices, construction output decreased by 13%. According to data by KSH, out of the divisions of construction, output fell by 32.1% in the division of construction of buildings and was down 38.5% in the construction of civil engineering works.
KSH data show that the volume of new contracts was similarly down, by 21.8% as compared to the same month a year earlier, with the volume of new contracts plunging 24.7% in the construction of buildings and by 19.6% in the construction of civil engineering works.
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