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Construction company heads see return to growth in 2011

Hungary's construction sector is expected to contract by 0.6% in 2010 but return to growth in 2011, a survey of a hundred company managers by CEEC Research and consultancy KPMG shows.

Hungarian construction companies' stock of orders is enough to keep them busy for just 3.2 months, a shorter period than for peers in the Czech Republic, Poland and Slovakia.

The outlook for 2011 depends on state orders for big infrastructure projects. Projections for the home building sector depend on any changes the government makes to home subsidies as well as the start of a program that supports the construction of rental homes.

Output of Hungary's construction sector fell 19.7% in June from a year earlier, the latest data from the Central Statistical Office (KSH) show. The decline accelerated from a drop of 10.3% in May and a 15.9% slide in April. (MTI-Econews)