KSH: Industrial Production and Construction Sector Continue to Grow
Both the industrial production and the construction sector of Hungary continue to show positive figures as the Central Statistics Office (Központi Statisztikai Hivatal, KSH) released its latest report on the country’s state, reported by MTI. Production in the construction sector rose by 9.8% compared to previous June, while industrial output grew by 11,3.%, again compared to last June.
The construction sector’s two main elements, namely building construction and other construction projects rose by 2.4% and 18% respectively. The sector continues its recent growth streak, which began 18 months ago, although there are signs of slowing down. This is mainly caused by structural construction companies, which have seen a considerable halt in the past months, although this is somewhat negated by the continuing stream of road and rail construction projects.
The growth of industrial output of Hungary remains strong as this is the third time in 2014 that the sector produced two-digit growth figures. With 11.3% June is among the best months, alongside with March and May. According to KSH, growth is not only driven by auto manufacturing and related supply companies, but agricultural products and consumer electronics as well. It is also important to note that growth is not limited to certain parts of Hungary, since in the January-June period all regions showed positive figures.