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May construction output up 15.1%

Construction

The volume of construction output in Hungary was 15.1% higher in May 2018 than a year earlier, based on monthly raw data from the Central Statistical Office (KSH). Output increased in both main groups of construction: in the construction of buildings by 8.8%, and in civil engineering works by 23.7%.

Based on seasonally and working day-adjusted indices, construction output increased by 6.1% in May compared to the previous month.

Output at current prices rose to HUF 259.5 billion in May 2018, up from HUF 206.4 bln in May 2017.

In May 2018, the KSH said output in the building segment was lifted by the construction of industrial facilities, while in the civil engineering segment, construction of highways, railways and utilities infrastructure supported the increase.

Of the divisions of construction, output increased by 7.4% in the construction of buildings, by 26.3% in civil engineering, and by 13.1% in specialized construction activities.

The volume of new contracts decreased by 10.7%, within which new contracts for the construction of buildings rose by 33.0%, while new contracts for civil engineering works decreased by 24.4%.

In May, high-value new contracts were concluded for office buildings, industrial and educational facilities.

At the end of May, the volume of contracts at construction enterprises was 67.4% higher year-on-year. The volume of contracts was 9.3% higher for the construction of buildings, and 91.1% higher for civil engineering works than a year earlier.

In January-May 2018, compared to the first five months of 2017, construction sector output climbed 16.9% from a year earlier to a total output of HUF 940.3 bln at current prices.

Construction sector data for June 2018 will be published by the KSH on August 10.

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