Construction Output Volume Down in Hungary

The volume of construction output, based on raw data, was 15.7% lower in June 2020 compared to the high base of the previous year. Output decreased in both main groups of construction: in the construction of buildings by 14.2%, in civil engineering by 17.5%. 

Based on seasonally and working day adjusted indices construction output increased by 6.2% compared to the May data. In the 2nd quarter construction producer prices increased by 7.7% compared to the same period of the previous year. The effects of the altered economic processes caused by the coronavirus epidemic in construction as a whole were significant in June, the Central Statistical Office reports.

In June 2020, compared to the same month of the previous year:

• The volume of output decreased in both main groups of construction: in the construction of buildings by 14.2% and in civil engineering by 17.5%.
• Out of the divisions of construction, output volume went down by 11.6% in the construction of buildings, by 17.9% in civil engineering, specialised construction activities lessened by 16.8%.
• The volume of new contracts concluded decreased by 44.8%, within it the volume of new contracts for the construction of buildings fell by 34.4%, the volume for civil engineering works dropped by 55.6%.
• The volume of the June end-of –month stock of contracts at construction enterprises was 19.2% lower than at the end of June 2019. The volume of contracts increased by 5.0% for the construction of buildings and decreased by 29.1% for civil engineering works, compared to the previous year.