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KSH: Hungary’s construction output up 8.1% in September

Construction

Hungary’s construction output volume saw a year-on-year rise of 8.1% in September, with the construction of buildings growing by 6% and that of civil engineering works by 9.9%, Hungary’s Central Statistical Office reported.

“Out of the divisions of construction, output grew by 3.4% in the division of construction of buildings and was up by 7.7% in the construction of civil engineering works. Output rose by 10.8% in the division of specialized construction works, accounting for more than 40% of construction output,” KSH said.

The volume of new contracts saw a y.o.y. rise of 16%, expanding by nearly 35% in the construction of buildings and by 3.1% in the construction of civil engineering works, KSH reported.

“The September increase in new contracts could not compensate for a more than year-long recession, so the volume of the contract portfolio of construction companies at the end of September 2015 continued to be about 49% lower than a year earlier. Within this, the volume of the stock of contracts increased by 6.5% for the construction of buildings and fell by 61% for the construction of civil engineering works, compared to a year earlier,” KSH said.

KSH data suggest that in the period of January-September, construction output expanded by 4.7% in year-on-year terms, while in the third quarter, construction producer prices rose by 2.7%.

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