Hungarian construction industry closed a bad month in May, with production down

Based on raw data, the Hungarian construction industry output volume surpassed the previous year’s level by 7.2% in May 2024. Out of the main groups of construction, the construction of buildings increased by 11.2%, and that of civil engineering grew by 1.1%. Based on seasonally and working day adjusted indices, construction output was 3.8% lower than in April, the Central Statistical Office (KSH) said on Monday.

In May 2024, compared to the same month of the previous year:

According to KSH, the output of both main construction groups grew: building construction rose by 11.2%, and civil engineering grew by 1.1%.

Among the divisions of construction, production volume increased by 12.5% in building construction and decreased by 12.4% in civil engineering. Production in specialised construction activities, which have the largest weight in construction, expanded by 14.8%.

The volume of new contracts concluded lessened by 1.3%. Within it the volume of contracts for the construction of buildings increased by 5.0%, that for civil engineering decreased by 9.0%, year-on-year.

The volume of the end-of-May stock of contracts at construction enterprises was 6.0% higher than in the same period of the previous year. Within this, the volume of contracts was up by 2.5% for building construction and grew by 9.3% for civil engineering works.

In the first five months of 2024 compared to the same period of the previous year:

Production volume in construction grew by 6.1%.