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Jul 17, 2018

Hungary’s construction sector output rose by an annual 15.1 percent in May

3,400 new flats were completed in the first quarter of 2018, and 72,000 families have applied for government-funded family home subsidies

Hungary’s construction sector output rose by an annual 15.1 percent in May, the Central Statistical Office (KSH) has announced. 

Figures show that the output of the building segment rose by 8.8 percent during the same period. 

KSH said the output of the civil engineering segment was up 23.7 percent, while 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 improvement.

In KSH's 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 HUF (805.7 million EUR) 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. 

Commenting on the data, the information and technology ministry’s deputy state secretary said that clients’ trust puts the sector in a good position. 

Gyula Pomázi noted that 3,400 new flats were completed in the first quarter of 2018, and 72,000 families have applied for government-funded family home subsidies (CSOK) worth about 205 billion HUF in total. 

Construction companies have also launched equipment developments, which also points to further expansion, he concluded.