Hungary: Construction output volume decreased by 20.1% in May

The volume of construction output was 20.1% lower in May 2020 compared to the high base of the previous year, latest Statistics Hungary data shows.

Output decreased in both main groups of construction: in the construction of buildings by 24.0%, in civil engineering by 15.6%. Based on seasonally and working day adjusted indices construction output lessened by 20.3% compared to the April data.

The effects of the economic processes altered by the coronavirus epidemic were significant in May.

In May 2020, compared to the same month of the previous year

The volume of output decreased in both main groups of construction: in the construction of buildings by 24.0% and in civil engineering by 15.6% compared to the high base of the last year.

Out of the divisions of construction, output volume went down by 16.8% in the construction of buildings, by 12.0% in civil engineering while specialised construction activities lessened by 27.8%.

The volume of new contracts decreased by 7.4%, within it the volume of new contracts concluded for the construction of buildings was 47.6% higher than the low base of the previous year, while their volume for civil engineering works was 29.1% lower than one year earlier.

The volume of the May end-of–month stock of contracts at construction enterprises was 14.5% lower than at the end of May 2019. The volume of contracts increased by 14.1% for the construction of buildings and decreased by 25.6% for civil engineering works.

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