April 17, 2024

Construction output volume, based on raw data, surpassed the previous year’s level by 3.2% in February 2024. Out of the main groups of construction the construction of buildings increased by 2.8%, that of civil engineering grew by 4.4%. Based on seasonally and working day adjusted indices construction output was 8.5% lower than in January.

In February 2024 compared to the same month of the previous year:

Output of both main groups of construction increased: the construction of buildings by 2.8%, that of civil engineering by 4.4%.

Among the divisions of construction, production volume decreased by 6.9% in the construction of buildings, and by 3.0% in civil engineering. Production in specialised construction activities, however, having the largest weight in construction, expanded by 13.0%.

The volume of new contracts concluded grew by 84.1%. Within it the volume of contracts for the construction of buildings increased by 30.1%, that for civil engineering inceased by 150.9% year-on-year. In the case of the latter, in addition to the low base, the significant increase is due to contracts concluded for road constructions.

The volume of the end-of-February stock of contracts at construction enterprises lessened by 7.6%, within it the volume of contracts was down by 8.7% for the construction of buildings and decreased by 6.6% for civil engineering works compared to the same period of the previous year.

In the first two months of 2024 compared to the same period of the previous year:

Production volume in construction grew by 9.5%.

Source: Hungarian Central Statistical Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.