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April Lockdown Has Little Impact on Construction Sector

MTI-Hungary Today 2020.06.15.

Output of Hungary’s construction sector edged down 2.1 percent year-on-year in April, while the country was under a lockdown because of the coronavirus pandemic, data released by the Central Statistical Office (KSH) on Monday show.

The decline slowed from a 3.4 percent drop in March and was just a fraction of the contraction seen in the industrial sector.

KSH noted the impact of a high base on the figure: in April 2019, construction sector output soared 39.7 percent.

Output of the buildings segment slipped 1.4 percent in April. Output of the civil engineering segment dipped 2.8 percent.

In absolute terms, construction sector output came to 319.8 billion forints (EUR 924m) for the month, including 171.8 billion forints in the buildings segment and 147.9 billion forints in the civil engineering segment.

In a month-on-month comparison, output fell a seasonally- and workday-adjusted 1.3 percent.

Order stock in the construction sector was down 15.4 percent at the end of April from twelve months earlier. Order stock in the buildings segment was up 5.9 percent but order stock in the civil engineering segment dropped 24.3 percent.

New order volume was up 3.9 percent year-on-year, climbing 4.7 percent in the buildings segment and 3.2 percent in the civil engineering segment.

Featured photo illustration by György Varga/MTI