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Downturn in Construction Output Moderates in June

MTI-Hungary Today 2020.08.13.

The year-on-year decline in output of Hungary’s construction sector slowed to 15.7 percent in June after reaching a four-year low of 18.5 percent in the previous month, data released by the Central Statistical Office (KSH) on Thursday show.

Output of the building segment fell by 14.2 percent and civil engineering output declined by 17.5 percent.

In a month-on-month comparison, construction sector output rose by a seasonally- and workday-adjusted 6.2 percent.

In absolute terms, construction sector output came to 364.8 billion forints (EUR 1.1bn) in June, including 210.3 billion forints in the building segment and 154.5 billion forints in civil engineering.

Hungarian Press Roundup: Accusations Fly over Chain Bridge Reconstruction
Hungarian Press Roundup: Accusations Fly over Chain Bridge Reconstruction

A left-wing commentator accuses the government of trying to disqualify companies which are not close to Fidesz from the tender for the reconstruction of the Chain Bridge. Her pro-government counterpart, on the other hand, contends that the opposition-run Budapest City Council wants to secure a lucrative deal for the Austrian firm, Strabag. Hungarian press roundup […]Continue reading

KSH said the economic impact of the coronavirus crisis had “significantly” affected the whole of the construction sector in June.

Construction sector order stock at the end of June was down 19.2 percent from twelve months earlier, as building orders rose by 5.0 percent but civil engineering orders fell by 29.1 percent.

New order volume was down 44.8 percent, with new orders in the building segment falling by 34.4 percent and new civil engineering orders dropping 55.6 percent.

Featured photo by Zoltán Máthé/MTI.