Hungary’s construction sector is in big trouble, new official figures show

Output of Hungary’s construction sector fell by 6.0 percent year-on-year in September, after edging down 0.1 percent in the previous month, data released by the Central Statistical Office (KSH) on Monday show.

Output of the buildings segment dropped by 9.5 percent but civil engineering output edged up by 0.4 percent, KSH says.

In absolute terms, construction sector output reached 732 billion forints (EUR 1.9bn) in September. The buildings segment accounted for 60 percent of the total.

In a month-on-month comparison, construction sector output slipped by 1.8 percent, adjusted for seasonal and workday effects.

Order stock was 30.6 percent lower at the end of September than twelve months earlier.

Buildings segment orders were down by 13.4 percent and civil engineering orders dropped by 42.6 percent.

New orders fell by 32.0 percent during the period. New orders in the buildings segment were down by 43.9 percent and new civil engineering orders decreased by 2.7 percent.

Construction sector output fell by 4.7 percent in January-September from the base period.

We published a week ago about the unstoppable decline in housing construction in Hungary, details HERE.

As we wrote earlier, the Hungarian government found its autumn enemy in the business world. From September, the Orbán administration will take further steps against foreign building material manufacturing companies, details HERE.