Hungary construction sector output growth slowing

Construction

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Output of Hungaryʼs construction sector rose by an annual 22.7% in July, but decreased in a month-on-month comparison, data released by the Central Statistical Office (KSH) today shows.

The KSH noted that the jump came from a low base. Output of the building segment was up 15.1% during the period, with the rise driven by industrial and storage facilities, as before. Output of the civil engineering segment climbed 32.4% on road, railway and public utilities works, national news agency MTI reports.

In a month-on-month comparison, output fell a seasonally and working day-adjusted 2.1%. Output fell 8.2% from June in the building segment and rose 3% in the civil engineering segment.

In January-July, output was up 26.2% year-on-year. It dropped 18.8% in the full year of 2016. In absolute terms, construction sector output reached HUF 194.7 billion in July, at current prices.

The order stock was up 83.7% at the end of July from 12 months earlier. Orders climbed 15.6% in the building segment and were up by 132% in the civil engineering segment.

The new order volume rose 3.8%, down 21.9% in the building segment and rising 39.1% in the civil engineering segment. In the civil engineering segment, the increase reflects contracts for road, railway and public utilities developments, the KSH noted.

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