Construction Sector Output Growth In Hungary Slows To 26.3 Percent In May

  • 17 Jul 2019 10:58 AM
  • Hungary Matters
Construction Sector Output Growth In Hungary Slows To 26.3 Percent In May
Output of Hungary’s construction sector climbed by an annual 26.3% in May, data released by the Central Statistical Office (KSH) show. Output of the buildings segment was up 27.0%, lifted by construction of factories and warehouses, KSH said.

For the period January-May, construction sector output was up 40.4% year on year.

László György, a state secretary at the innovation and technology ministry, told news channel M1 that the construction industry had been growing for three consecutive years, with productivity reaching 23% in 2018.

The sector is expected to receive orders to the tune of 25 billion forints between 2018 and 2023, he said, adding that facing that work load would require a 10 to 11% annual growth.

Commenting on the data, analyst Gergely Suppan of Takarékbank said unseasonably cold and wet weather and a higher base could both have played a part in the May slowdown in output growth.

Suppan said he expected about 25,000 new homes to be completed this year, forecasting full-year output growth of around 30% in the sector.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports