Construction output drops 16.2% y-o-y in June

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Hungary’s construction output volume dropped by 16.2% in June compared to the corresponding month of 2015, the Central Statistical Office (KSH) reported today in a first release of data. In the first half, construction output slipped 25.3%, though it increased by 7.5% in June compared to May.

The output volume in the two main areas of construction changed in opposite directions: while construction of buildings rose by 7.4%, that of civil engineering works fell by 36.8%, the KSH reported.  

The office noted that the decline in civil engineering works was primarily caused by the completion of projects carried out using EU funds at the end of last year, while the largest decrease was recorded in the output of road, railway and public utility construction enterprises in June, as compared to the corresponding month a year earlier.

Of the sectors of the construction industry, output increased by 14.7% in the construction of buildings, while falling 44.5% in civil engineering and 8.8% in specialized construction activities, according to the KSH.

The volume of new contracts was 13.3% higher than in the corresponding period of the previous year, within which the volume of new contracts concluded for the construction of buildings was up by 22.6% and civil engineering works up 8.1%, the KSH reported.

In the first half of the year, the volume of construction output was 25.3% lower than a year earlier, while in the second quarter, construction producer prices increased by 2.9% compared to the same period of the previous year, the KSH said. In month-on-month comparison, based on seasonally and working day-adjusted indices, construction output grew by 7.5% in June.

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