Construction Sector Output In Hungary Up 20.5% In October

  • 14 Dec 2019 11:19 AM
  • Hungary Matters
Construction Sector Output In Hungary Up 20.5% In October
Output of Hungary’s construction sector climbed 20.5% year-on-year in October, unadjusted data released by the Central Statistical Office (KSH) show.

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.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports