KSH: Hungaryʼs construction sector output up 2.3% in May
Output of the construction sector in Hungary saw a year-on-year rise of 2.3% in May, decelerating from a y.o.y. growth of 10.8% growth in the previous month, the Central Statistics Office (KSH) said today.
In year-on-year terms, the number of newly constructed buildings decreased by 5.0%, while civil engineering works rose by 8.7%, the statistics office said. According to KSH, the decline in construction of buildings is mainly due to the high base of a year earlier and to the lack of high-value new projects, while the growth in the construction of civil engineering works – as in previous months – was related to road construction and railway reconstruction works as well as public utility projects running in several parts of the country.
KSH said that output lessened by 5.4% in the division of construction of buildings and increased by 11.2% in the construction of civil engineering works. Output was down by 1.3% in the division of specialized construction works, accounting for more than 40% of construction output.
The volume of new contracts was 2.7% lower, KSH said, adding that the volume of new contracts rose by 4.2% in the construction of buildings and decreased by 6.3% in the construction of civil engineering works.
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.