Road improvements and factory construction can boost construction

According to raw data, the volume of construction output in February 2024 was 3.2 percent higher than a year earlier, the Hungarian Central Statistical Office (KSH) said.
 

The production of construction of buildings increased by 2.8 percent and that of other construction by 4.4 percent.
Overall, construction output was 8.5 percent lower than in January.

 Among the construction sectors, output fell by 6.9% in the construction of buildings and by 3.0% in the construction of other structures compared with a year earlier. However, output in the most important sector, specialised construction, increased by 13.0%.

Factory and road building boost the construction industry

The volume of new contracts signed in February increased by 84.1 percent. Within this, contracts for the construction of buildings were 30.1 percent higher than a year earlier, while contracts for the construction of other structures were 150.9 percent higher. The significant increase in the latter was due to the low base and to contracts for the development of roads.
 

The volume of construction contracts at the end of February was 7.6 percent lower than a year earlier, including 8.7 percent for building construction and 6.6 percent for other construction.
In the first two months of 2024, the volume of construction output rose by 9.5 percent compared to the same period of the previous year.