Output of Hungary鈥檚 construction sector fell by an annual 8.1% in June, contracting for the first time in more than a year, the Central Statistical Office (KSH) said. Output of the buildings segment fell by 4.8% and civil engineering output dropped by 11.7%. In absolute terms, construction sector output reached 579.1 billion forints (EUR 1.5bn) in June.
L谩szl贸 Koji, who heads construction industry association 脡VOSZ, attributed the drop in output in June to a high base. Koji said the sector would remain a 鈥渄riving force鈥� for the economy in 2022 and put output value at around 5,500 billion forints (EUR 13.85bn). Gergely Suppan, Takar茅kbank鈥檚 chief analyst, said the construction sector was likely to expand by close to 7% this year, supported by a 鈥渕ass鈥� of orders for residential construction and renovation as well as demand for home energy upgrades.
hungarymatters.hu
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