Hungarian construction sector output grew by an annual 10.8% in April, down from 12.7% in March, the Central Statistical Office (KSH) said. Output of the buildings segment rose 4.3% in April and output of the civil engineering segment was up 16.3%. In absolute terms, construction sector output reached 174.3 billion forints. Output fell by 1.2% from the previous month, according to seasonally and working day adjusted output, KSH said.
source: ksh.hu
Lászlo Kóji, head of industry association EVOSZ said there is still momentum in the construction sector, companies are fulfilling their contracts signed 1.5-2 years ago. However, there has been continuing decline in new orders signed for the last 8 months with a gradual improvement expected for home building and renovations, he added.
ING Bank senior analyst András Balatoni noted that with the order stock of construction companies down in April the effects from this would begin to show in output figures in a few months’ time. András Balatoni expects that in the second half of 2015 and in 2016 unfavourable construction data will be published and construction output will start to decline.
via ksh.hu and hungarymatters.hu photo: public domain