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Hungary investment volume climbs over 17 pc in Q1

Hungary investment volume climbs over 17 pc in Q1

Investment volume in Hungary increased by an annual 17.3 percent in the first quarter, the Central Statistical Office (KSH) said on Wednesday.

Construction investments jumped by 26.4 percent and investments in machinery rose by 10.4 percent.

Manufacturing investments edged down 0.2 percent, but real estate investments rocketed 44.9 percent. Investments in the logistics sector were up 9.4 percent.

In absolute terms, investments came to 1,261 billion forints (EUR 3.95bn) current prices in the first quarter. Manufacturing sector investments reached 376 billion, real estate investments rose to 226 billion and logistics investments stood at 119 billion forints.

New-Year

Full-year investment growth came to 16.7 percent in 2017.

The finance ministry state secretary in charge of the budget said the increase in investment volume had significantly exceeded expectations, commenting on the fresh data on public television.

Péter Benő Bánai noted that the government projects 13 percent investment growth for the full year.

Takarékbank analyst Gergely Suppán said order stock of the construction industry and big investments underway augur double-digit investment growth again this year. Takarékbank expects the increase for the full year to be around 14 percent, he added. K+H Bank chief analyst Dávid Németh put full-year investment growth at 12 percent.

Source: MTI

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