Hungary’s construction output grows 35.4% in May

Construction

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Hungary’s volume of construction output grew by 35.4% in May, as compared to the same month a year earlier, with the output increasing in both main construction groups: by 27.2% in the construction of buildings and by 46.7% in civil engineering works, Hungary’s Central Statistical Office (KSH) said today in a first release of data.

Growth in the construction of buildings was primarily the result of industrial and warehouse buildings and, to a lesser extent, sports facilities and educational buildings in May, KSH explains. In civil engineering, production grew from a low base, as a result of road and railway construction works, KSH adds.

Of the divisions of construction, output increased by 25.7% in the construction of buildings, by 51.9% in civil engineering and by 32% in specialised construction activities, as compared to the same month a year earlier, KSH said. 

The volume of new contracts increased by 53.2% compared to the same period of the previous year. Within this, the two main groups of construction moved in opposite directions: the volume of contracts concluded decreased by 12% for buildings but grew by 99.5% for civil engineering works, KSH added.

The month-end volume of the stock of contracts of construction enterprises for May was 94.3% higher than the previous yearʼs low base, according to the KSH report. Within this, the volume of the stock of contracts was 38.5% higher for buildings and 132% higher for civil engineering works.

Construction output expanded by 7.5% in May, as compared to the preceding month, based on seasonally and working day adjusted indices. In the January-May period, the volume of construction output grew by 26.9%, as compared to a year earlier. 

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