Despite the economic crisis, the performance of the construction sector in Hungary has increased

Nyíregyháza, Hungary. Photo: MTI

Output of Hungary’s construction sector rose by an annual 1.6 percent in September, after edging down 0.4 percent in the previous month, the Central Statistical Office (KSH) said on Monday.

Output of the buildings segment rose by 3.3 percent but civil engineering output was down 0.5 percent.

In absolute terms, construction sector output reached 688.5 billion forints (EUR 1.8bn) in September. The buildings segment accounted for 62 percent of the total.

In a month-on-month comparison, construction sector output climbed 2.2 percent, adjusted for seasonal and workday effects.

For the period January-September, construction sector output increased by an annual 4.8 percent.

read also: Negative prospects in Hungarian construction industry: stalled projects, bankrupt contractors

Construction producer prices

KSH says, in the 3rd quarter, within the divisions of construction, prices increased by a similar rate (28.0 and 27.7%) in the construction of buildings and in the greatest weight-carrying specialized construction activities, and they grew by 22.1% in civil engineering compared to the 3rd quarter of 2021. The price increase was caused principally by the rising costs, especially the significant price hike of several building materials.

Construction prices were 5.2% higher than in the previous quarter.