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KSH: Hungary’s construction output drops 29.8% in April

Construction

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Hungary’s construction output volume was down 29.8% in April as compared to the same month a year earlier, however, as compared to the previous month construction output was up 2%, Hungary’s Central Statistical Office (KSH) said today in a first release of data.

The decline was chiefly due to the completion of works carried out with EU funds at the end of 2015 and partly due to the high base, similar to the previous three months, KSH said. In the first four months of the year, the volume of construction output was 28.3% lower than a year earlier, according to data from KSH. 

Output decreased in both main groups of construction – the construction of buildings by 2.7% and civil engineering works by 52.1% – data by KSH shows.

According to KSH, out of the divisions of construction, output rose by 2.9% in the construction of buildings, and by contrast fell 64.7% in civil engineering works. In the division of specialized construction activities, the volume of output was down 9%.

The volume of new contracts was 24.4% lower than in the same period of the previous year, within which the volume of new contracts concluded for the construction of buildings was down by 15.3% and the volume of new contracts for the construction of civil engineering works by 30.6%, KSH added.

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