- 14 Dec 2019 11:19 AM
- Hungary Matters
Output of the buildings segment was up 18.8%, lifted by construction of residential, cultural and industrial buildings, KSH said. Civil engineering output rose by 22.3%, helped by road and railway developments.
In a month-on-month comparison, construction output rose by 3.2%, adjusted for seasonal and workday effects. For the period January-October, output was up 27.0% year-on-year. In absolute terms, output stood at 444.0 billion forints (EUR 1.3bn) in October and 3,547.9 billion forints in the first ten months.
Order stock in the sector was down 10.1% at the end of October from twelve months earlier. Stock rose by 40.6% in the buildings segment but was down 21.7% in the civil engineering segment. New order volume was up 2.7% as new orders for buildings fell by 2.8% and civil engineering orders were up 8.5%.
Analysts interviewed by MTI said the construction sector had started the fourth quarter well and should make a significant contribution to economic growth.
Gábor Regős of Századvég Institute said full-year construction sector output growth could come close to 25% and the sector’s output should continue to grow in 2020, albeit at a slower pace. András Horváth of Takarékbank said the sector’s output could grow by almost 30% in 2019 and about 10% next year.