Construction output in Hungary up 5.1% y/y in February 2015

Construction output increased by 5.1% y/y in Hungary in February 2015, according to figures released by the Hungarian Central Statistical Office (KSH). For the building sector output was up 4.8% when compared with February 2014, while civil engineering work grew by 5.9% y/y. The latter was driven by road construction projects, railway reconstruction and public utility projects. However, the volume of new contracts declined by 40.7% y/y, with a 16.8% drop in the buildings construction group and a 50.7% fall in the civil engineering group.

Compared to January 2015, construction output in February rose by 3.2% on a seasonally adjusted basis. Construction output for the first two months of 2015 grew by 6.4% y/y.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/europe-cis/15042015/construction-output-up-in-hungary-in-february-2015-688/