Industrial Construction Drove Growth of Hungary’s Construction Output in January

industrial construction
Image Source: andrechinn, CC BY 2.0

According to recent data published by the Hungarian Central Statistical Office (KSH), the country’s construction output has increased by 18.5% in January this year, driven by high industrial construction activity, compared with the same period last year.

Specifically, building construction has gone up by 32.8%, primarily due to industrial construction, though the uptrend was also driven to a lesser extent by the creation of new educational buildings and sports facilities. Meanwhile, specialized construction activities across the country have also increased by 24.2%.

The volume of new contracts has also grown by 211.8%, in which the number of the concluded projects has increased by 287.4% for building construction and 152.7% for civil engineering works. Moreover, the month-end volume of the enterprises’ stock of contracts was also 122.8% higher than the 2016 low base.

Based on the working-day and seasonally adjusted indices, the KSH showed that construction output in January has risen by 4.6% compared to December of last year.