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.
Source: MTI, KSH
Biting hard into the Construction Industry and Property – Real Estate Industry’s is the Orban wrongful path he and his Government have pursued for the short to medium and long term future of Hungary.
A strong undertone to the FALL of these markets is the total lack of confidence from investors outside and inside Hungary.
Hungary, a country that ALL of its CORE componentry that are the key factors of their Economy, continue to trend DOWNWARD.
Hungary there is NO sign of STABILITY in there Economy.
The Economic & Financial outlook for Hungary, continues it’s STRONG uncontrollable downward TREND, that Orban and his Government, the instigators designers of the HORRENDOUS sickening place as a country we are in at this present point in time, growing in deepening relationships with China & Russia, continuing at a rapid pace – CRUSHING away from DEMOCRACY and the European Union – we being Hungary are DOOMED.
Orban – continues to PUCH Holes into Hungary, that are just eradicating stripping away destroying factually life qualities to already millions of Hungarians that will WORSEN.
If you don’t remember the 1945-1989 communist POWERED and led and GOVERNED years of Hungary, do some reading and be prepared, as we are in times, that mass numbers of those VILE years, similarities in Government and life-style are RETURNING to Hungarian life.
Orban has NO money.
Orban – on-going this and that from China’s investments into Hungary, would NOT hopefully be going down agreed by Brussels.
The Construction Industry and the Property-Real Estate Industry, it was written by a commentator in a DNH article near on 12months past, that CARNAGE would HAPPEN.
Could be RIGHT, as to total lack of the in-ability from ALL aspects of the Orban Government to STOP the NADIR – these Industries are TRENDING into.