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Hungaryʼs construction sector output up 2.3% in May: KSH

Hungaryʼs construction sector output up 2.3% in May: KSH

BUDAPEST: Output of the construction sector in Hungary saw a year-on-year rise of 2.3% in May, decelerating from a y.o.y. growth of 10.8% growth in the previous month, the Central Statistics Office (KSH) said today.

In year-on-year terms, the number of newly constructed buildings decreased by 5.0%, while civil engineering works rose by 8.7%, the statistics office said. According to KSH, the decline in construction of buildings is mainly due to the high base of a year earlier and to the lack of high-value new projects, while the growth in the construction of civil engineering works – as in previous months – was related to road construction and railway reconstruction works as well as public utility projects running in several parts of the country.

KSH said that output lessened by 5.4% in the division of construction of buildings and increased by 11.2% in the construction of civil engineering works. Output was down by 1.3% in the division of specialized construction works, accounting for more than 40% of construction output.

The volume of new contracts was 2.7% lower, KSH said, adding that the volume of new contracts rose by 4.2% in the construction of buildings and decreased by 6.3% in the construction of civil engineering works.