This article is a summary of the figures published by the Hungarian Central Statistical Office on the performance of the construction industry in September 2021. Based on the available data for the third quarter, it can be confirmed that the prices in the construction sector have increased by 12,8% compared to the same period of the previous year.
Figures from the Central Statistical Office
In the definition that the Hungarian Central Statistical Office (“KSH”) uses when it collects data, construction industry activities include the shell and core construction of buildings and other facilities, the construction of new buildings, as well as the renovation and remodelling of existing buildings.
The latest raw data reported by the Central Statistical Office show that construction output in September 2021 was higher by 14,2% than a year before.
Output grew in both of the main categories of construction in September 2021, with a 21,2% increase in buildings, and with a 6,7% increase in other facilities. There was an increase in the construction sector of buildings, with a 30,1% increase, in the sector of specialised construction activities, with a 6,3% increase and in the sector of other facilities with a 12,7% increase.
According to indices adjusted for seasonal changes and monthly business days, output in the construction industry grew by 4,2% compared with August.
There was a year-on-year decrease of 16,1% in the value of newly signed construction contracts, with an increase of 28,4% in the case of contacts for buildings and with a decrease of 34,9% in the case of contracts for other facilities.
The overall value of existing construction contracts at the end of September 2021 was higher by 12,9% than a year before. The value of contracts for buildings and for other facilities was higher by 21,4% and 7,7%, respectively, compared with year-on-year data.
As compared to Q3 2020, construction prices grew by 14,8% in the case of buildings, by 8,6% in the case of other facilities, and by 14,4% in the case of specialised construction activities. The prices charged by construction companies were higher by 4,2% in Q2 2021 than in Q2 2021.
Based on the available data, it can be confirmed that the construction output has turned out to be positive: it has increased by 10,5% in the first nine months of 2021, compared to the same period of 2020.
Authors: András Fenyőházi and Evelin Varga