Hungary’s Construction Sector Output Up 25.8% In September
- 13 Nov 2018 7:37 AM
- Hungary Matters
Output of Hungary’s construction sector climbed 25.8% year-on-year in September, data released by the Central Statistical Office (KSH) show.
Output of the buildings segment was up by 22.2%, lifted by construction of factories, stores and homes, KSH said.
Civil engineering output increased by 30.5%, supported by road, railway and utilities projects, it added.
In a monthon-month comparison, construction output dropped by 0.2%, adjusted for seasonal and workday effects. For the period January-September, output was up by an annual 22.8%.
In absolute terms, output stood at 375.3 billion forints (EUR 1.17bn) in September and at 2,235.8 billion forints in January-September. Order stock in the sector was up by 42.5% at the end of September from twelve months earlier.
Stock fell by 4.7% in the buildings segment but rose by 58.4% in the civil engineering segment. New order volume was down by 34.0% as new orders for buildings dropped by 9.3% and civil engineering orders fell by 46.1%.
László Koji, the head of industry association ÉVOSZ, said they are forecasting construction sector output to grow by 20-22%, a higher rate than their earlier prediction of 18%.
András Horváth of Takarékbank projected construction sector output growth at around 22% for this year and somewhat above 15% in 2019.
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