KSH: Construction output up compared to the same period last year

The volume of construction output in May 2024 was 7.2 percent higher than a year earlier, according to raw data, the Hungarian Central Statistical Office (KSH) reported on Monday.

Modest expansion so far this year

Among the main construction groups, the production of buildings increased by 11.2 percent and that of other construction by 1.1 percent.
Based on seasonally and working day adjusted indices, construction output was 3.8 percent lower than in April.

Of the construction sectors, output was 12.5% higher in buildings and 12.4% lower in other construction. Output in the largest-weighted sector, specialised construction, increased by 14.8 per cent.

Overall, in the first five months of 2024, construction output was up 6.1% year-on-year.

Contract portfolio increased compared to last year

The volume of new contracts signed decreased by 1.3 percent, with contracts for the construction of buildings 5.0 percent higher and those for the construction of other structures 9.0 percent lower than a year earlier.
The volume of contracts in the construction business sector at the end of May was 6.0 percent higher than a year earlier,
with contracts for the construction of buildings up 2.5 percent and those for other construction up 9.3 percent.