Hungaryʼs construction output jumps 33% in March

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Hungary’s volume of construction output jumped by 33.3% in March, compared to the same month a year earlier, due to a low base, a first release of data from the Central Statistical Office (KSH) shows. Based on seasonally and working day-adjusted indices, construction output rose by 3.4% in March compared to the previous month, the KSH added.

Output increased in both main groups of construction: by 30.2% in the construction of buildings, and by 48.8% in civil engineering works, KSH data show. 

Of the divisions of construction, output increased by 54.2% in the division of construction of buildings, by 66.1% in civil engineering, and by 11.8% in specialized construction activities.

However, the volume of new contracts was 31.3% lower than in the equivalent period of the previous year, within which the volume of new contracts concluded was down by 11.5% for construction of buildings, and by 41.3% for civil engineering works.

In the January-March period, the volume of construction output grew by 24.7% compared to a year earlier.

In the first quarter, prices increased by 6.8% in the division of construction of buildings, by 2.0% in civil engineering works, and by 4.1% in the division of specialized construction works representing the greatest weight in the construction industry, compared to the corresponding period of the previous year, according to the KSH.

Construction prices increased quarter-on-quarter by 1.7%.

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