Construction Output Volume Down in Hungary

According to raw data the volume of construction output in January 2023 lagged behind the previous year’s level by 3.6%, the Central Statistical Office reports.

Out of the main groups of construction the construction of buildings decreased by 4.0 and that of civil engineering by 2.1%. Based on seasonally and working day adjusted indices construction output was below the December level by 5.0%.

In January 2023 compared to the same month of the previous year:
Output of both main groups of construction lessened: construction of buildings by 4.0 and that of civil engineering 2.1%.

Among the divisions of construction, production decreased by 7.8% in the construction of buildings, by 0.7% in civil engineering, and by 1.9% in specialised constructions.

The volume of new contracts concluded was below the January 2022 high base by 28.0%; within it the volume of contracts for the construction of buildings was 23.2% lower, while the volume regarding civil engineering declined by 36.2% year-on-year.

The volume of the end-of-January stock of contracts at construction enterprises lessened by 18.2% compared to the same period of the previous year; within it the volume of contracts was down by 2.0% for the construction of buildings and down by 29.6% for civil engineering works.