Huge drop in Hungarian investment performance

Investment volume in Hungary fell by an annual 13.5 percent in the second quarter, the Central Statistical Office (KSH) said on Thursday.

Investment volume fell for the third quarter in a row, and at a faster clip.

KSH said most branches of the national economy had contributed to the decline, with investment volume rising only in the manufacturing sector and a few smaller segments. Investment activity by foreign-owned companies was “more subdued”, while investments by state-owned companies fell parallel with a decline in expenditures on European Union-funded projects, it added.

The volume of construction investments fell by 24.2 percent, while that of machinery and equipment investments went up by 4.0 percent.

Hungarian investments were worth HUF 3,542 billion in the second quarter, with manufacturing accounting for 1.187 billion of the total and real estate HUF 675 billion.

Source: MTI