Hungary’s construction sector output growth jumps

Output of Hungary’s construction sector rose by an annual 15.1 percent in May, the Central Statistical Office (KSH) said on Monday.

Output of the building segment rose by 8.8 percent during the period. Output of the civil engineering segment was up 23.7 percent.

KSH said output of the building segment was lifted by the construction of industrial facilities. In the civil engineering segment, construction of highways, railways and utilities infrastructure supported the increase.

In a month-on-month comparison, output was up 6.1 percent, adjusted for seasonal effects and the number of workdays.

Output at current prices rose to 259.5 billion forints (EUR 805.7m) from 206.4 billion in May 2017.

Order stock was up 67.4 percent at the end of May from twelve months earlier. Orders in the building segment were up 9.3 percent and orders in the civil engineering segment increased by 91.1 percent.

New orders were down 10.7 percent annually, falling by 33 percent in the building segment and by 24.4 percent in the civil engineering segment.

In the first five months of 2018, construction sector output climbed by 16.9 percent from a year earlier to a total output of 940.3 billion forints at current prices.