KSH: Hungary’s construction output plummets 33.9%

Construction

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The volume of construction output in Hungary plummeted 33.9% in March as compared to the same month a year earlier, with the output of both main groups of constructions decreasing, the Hungarian Central Statistical Office (KSH) reported today. The volume of new contracts, however, was 47.3% higher than the low base in the previous year.

The construction of buildings fell 18.8%, while that of civil engineering works dropped substantially by 52.4%, according to data published by KSH. The decline in production - just as in the previous two months - was partly caused by the completion of works realized through EU funds at the end of 2015 and partly by the high base, KSH explained. 

Out of the various divisions of construction, output fell by 20.8% in the construction of buildings and was down 67.2% in the construction of civil engineering works, while output dropped by 15.9% in specialized construction works, KSH said.

In the period of Janurary-March, the volume of construction output was 27.6% lower than a year earlier, KSH reported, adding that in the first quarter, construction producer prices rose 2.5% compared to the same period of the previous year.

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