Construction drops 1.7 percent – The Budapest Times

Construction output volume, based on raw data, lagged behind the previous year’s level by 1.7% in November 2024. Out of the main groups of construction the construction of buildings lessened by 9.0%, that of civil engineering increased by 8.2%. Based on seasonally and working day adjusted indices construction output was below the October level by 2.0%.

In November 2024 compared to the same month of the previous year output in the two main groups of construction changed contrarily: the construction of buildings was 9.0% lower, that of civil engineering 8.2% higher year-on-year.

Among the divisions of construction, production volume decreased by 22.4% in the construction of buildings, and by 3.7% in civil engineering. Production in specialised construction activities, having the largest weight in construction, expanded by 12.2%.

The volume of new contracts concluded went down by 51.1%, within it the volume of contracts for the construction of buildings lessened by 34.9%, those for civil engineering works decreased by 57.0%, year-on-year.

The volume of the end-of-November stock of contracts at construction enterprises was 14.4% higher than in the same period of the previous year, within it the volume of contracts was down by 2.1% for the construction of buildings and grew by 26.7% for civil engineering works compared to November 2023.

In the first eleven months of 2024 production volume in construction grew by 0.5% compared to the same period of the previous year.