This article is a summary of the figures published by the Hungarian Central Statistical Office on the performance of the construction industry in June 2021. Based on the available data for the second quarter, it can be confirmed that the prices in the construction sector have increased by 9,3% 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 June 2021 was higher by 27,8% than a year before.
Output grew in both of the main categories of construction in June 2021, with a 25,0% increase in buildings, and with a 32,1% increase in other facilities. There was an increase in all of the three construction sectors, with a 15,0% increase in the case of buildings, 29,4% in the case of specialised construction activities, and 39,0% in the case of other facilities.
According to indices adjusted for seasonal changes and monthly business days, output in the construction industry grew by 3,5% compared with May.
There was a year-on-year growth of 65,9% in the value of newly signed construction contracts, with an increase of 72,4% in the case of contacts for buildings and with an increase of 56,1% in the case of contracts for other facilities.
The overall value of existing construction contracts at the end of June 2021 was higher by 21,2% than a year before. The value of contracts for buildings and for other facilities was higher by 32,0% and 14,3%, respectively, compared with year-on-year data.
As compared to Q2 2020, construction prices grew by 10,0% in the case of buildings, by 7,2% in the case of other facilities, and by 10,2% in the case of specialised construction activities. The prices charged by construction companies were higher by 3,7% in Q2 2021 than in Q1 2021.
Based on the available data for the second quarter, it can be confirmed that the construction output turned out to be positive despite of the data of the first quarter: it has increased by 7,3% in the first six months of 2021, compared to the same period of 2020.
Authors: András Fenyőházi and Varga Evelin