Hungarian construction industry is suffering, the latest figures are out

Output of Hungary’s construction sector slipped by 9.8 percent year-on-year in March, falling for the fourth month in a row, albeit at a slower pace, data released by the Central Statistical Office (KSH) on Monday show.

Output of the buildings segment dropped by 13.2 percent and civil engineering output edged down by 1.6 percent, KSH said.

In absolute terms, construction sector output reached 600.3 billion (EUR 1.6bn) forints in March. The buildings segment accounted for 66.8 percent of the total.

In a month-on-month comparison, construction sector output fell by 1.2 percent, adjusted for seasonal and workday effects.

Order stock was 27.9 percent lower at the end of March than twelve months earlier. Buildings segment orders were down by 9.0 percent and civil engineering orders declined by 39.4 percent.

New orders dropped by 31.8 percent during the period. New orders in the buildings segment declined 3.6 percent and new civil engineering orders plunged 54.1 percent.

In the first quarter, within the divisions of construction, prices increased the most in the greatest weight-carrying specialized construction activities (by 25.5%), and grew in the construction of buildings and in civil engineering by 23.8% and 22.0% compared to the same period of the previous year. The price increase was caused principally by the rising costs, especially the significant price hike of several building materials.

The first quarter’s construction prices were 4.8% higher than in the previous quarter.

As we wrote in April, Hungarian company would like to begin a new age in construction industry, details HERE.