Hungary’s construction sector output climbed an annual 15.2% in February, data released by the Central Statistical Office (KSH) show. The sector’s output was up by 18.5% in January after declining for twelve months in a row. The increases both in January and February were from a low base.
Building construction output was up by 13.5% while civil engineering output jumped 19.7% in twelve months.
In a month-on-month comparison, the output of the sector edged down 0.5% in February, adjusted for seasonal and workday effects.
In absolute terms, the construction sector output reached 106.5 billion forints (EUR 341m) in February. Analysts interviewed by MTI said they expected construction sector output growth to continue in the coming months, partly due to last year’s low base and partly because the sector’s output jumped almost 17% in the first two months of 2017.
Dávid Németh of K&H Bank said construction sector output growth could come close to 20% for the full year 2017.
László Koji, head of industry association EVOSZ said the 117% increase in the sector’s order stock suggests that construction sector output could rise substantially every month this year from 2016, predicting 15-20% growth for the full year.
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