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Construction output up nearly 30% y-o-y in January

Output of Hungaryʼs construction sector rose 29.1% year-on-year in January, the Central Statistical Office (KSH) revealed on Thursday. Output of the building segment rose 28.2% during the period, while output of civil engineering works jumped 32.2%.

Based on seasonally and working day-adjusted indices, construction output increased by 9.8% compared to the previous month.

In the construction of buildings, the increase in January was due to industrial and office buildings, while in civil engineering projects, road and railway construction continued to generate growth.

Of the divisions of construction, output volume increased by 24.5% in the construction of buildings, by 104.8% in civil engineering, and by 16.8% in specialized construction activities.

The volume of new contracts increased by 16.9%, albeit from a low base, within which new contracts for the construction of buildings rose by 30.8%, while contract volume for civil engineering works declined by 24.0% year-on-year. Among buildings, contracts of high value were signed for industrial, cultural and sports facilities.

The stock of contracts at the end of January at construction enterprises increased by 1.0% year-on-year. The stock of contracts increased by 30.5% for the construction of buildings, but fell by 7.4% for civil engineering works, compared to the end of January 2018.

In absolute terms, at current prices, output of the construction sector this January rose to HUF 197.0 billion, up from HUF 138.1 bln in January 2018.

The value of the order stock in the construction sector as a whole reached HUF 2.357 trillion at the end of January.

Construction output data for February will be published on April 15.