Output growth of Hungary’s construction sector slowed to an annual 3.3% in January, after climbing in the double digits since the spring of 2021, decelerating on a decline in the building segment, the Central Statistical Office (KSH) said.
Output of the building segment edged down by 0.4%, while civil engineering output climbed by 12.9%. In absolute terms, construction sector output reached 291.4 billion forints (EUR 781.7m) in January. The building segment accounted for 65% of the total. Month on month, the output fell by 6.3%, adjusted for seasonal and workday effects. Order stock in the construction sector was 6.3% higher at the end of January than twelve months earlier. Buildings segment orders were down by 5.1% but civil engineering orders rose by 15.3%. New orders climbed 11.7% during the period, as new orders in the buildings segment jumped by 49.7% but new civil engineering orders plunged by 39.8%. Takarékbank senior analyst András Horváth said full-year growth in the sector could climb a little higher than 10%, but said the consequences of the war, supply chain interruptions and the labour market squeeze presented “significant uncertainty”.
hungarymatters.hu
