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Construction output volume up 5.9% in August

Output of Hungaryʼs construction sector climbed 5.9% year-on-year in August, show monthly data issued Wednesday by the Central Statistical Office (KSH). In January-August, compared to the first eight months of 2018, output grew 29.6%.

Based on seasonally and working day-adjusted indices, construction output decreased by 10.5% compared to the July figure, the KSH noted.

The volume of output in the two main groups of construction developed in opposite directions: while the volume of construction of buildings grew by 14.1%, civil engineering works declined by 3.5%.

In the construction of buildings, the increase was due to residential, cultural and industrial projects.

The volume of new contracts increased by 3.2% year-on-year, within which the volume of new contracts concluded for the construction of buildings fell by 2.5%, while growing 10.1% for civil engineering works.

The stock of contracts at construction enterprises at the end of August was down by 12.1% compared to the end of August 2018. The stock of contracts increased by 49.8% for the construction of buildings, but fell by 25.6% for civil engineering works.

In absolute terms, the overall value of construction in August totaled HUF 382.3 billion at current prices.

In January-August 2019, compared to the first eight months of last year, the volume of construction output grew by 29.6%, totaling a combined HUF 2.618 trillion in value at current prices in the year to date.

Construction data for September 2019 - and for the first three quarters of the year - will be published by the KSH on November 12.