Construction output volume decreased by 9.8% year-on-year and by 1.2% compared to February
According to raw data the volume of construction output in March 2023 lagged behind the previous year’s level by 9.8%, a higher output during the base period also played a part in this trend. Out of the main groups of construction the construction of buildings decreased by 13.2%, that of civil engineering fell by 1.6%. Based on seasonally and working day adjusted indices construction output was below the February level by 1.2%. Construction producer prices increased in the 1st quarter – as certain building materials became significantly more expensive - by 24.1%, compared to the same period of the previous year.
In March 2023 compared to the same month of the previous year:
Output of both main groups of construction lessened: the construction of buildings by 13.2% and that of civil engineering by 1.6%.
Among the divisions of construction, production decreased by 21.8% in the construction of buildings, by 0.9% in civil engineering, and by 4.6% in specialised constructions.
The volume of new contracts concluded was below the March 2022 base by 31.8%; within it the volume of contracts for the construction of buildings was 3.6% higher, the volume regarding civil engineering declined by 54.1%.
The volume of the end-of-March stock of contracts at construction enterprises lessened by 27.9% compared to the same period of the previous year:The volume of contracts was down by 9.0% for the construction of buildings and lessened by 39.4% for civil engineering works.
In the first three months of 2023 compred to the same period of the previous year
Construction output decreased by 9.2%.
Construction producer prices:
In the first quarter, within the divisions of construction, prices increased the most in the greatest weight carrying specialized construction activities (by 25.5%), and grew in the construction of buildings and in civil engineering by 23.8% and 22.0% compared to the same period of the previous year. The price increase was caused principally by the rising costs, especially the significant price hike of several building materials.
The first quarter’s construction prices were 4.8% higher than in the previous quarter.
Output of construction
| Period | Output of construction | |||||
|---|---|---|---|---|---|---|
| volume indices | value at current prices, billion HUF | |||||
| original | seasonally and working day adjusted | |||||
| corresponding period of the previous year =100.0% | 2015 = 100.0% | previous month = 100.0% | ||||
| 2016 | 81.2 | 81.1 | 80.3 | x | 1 812.7 | |
| 2017 | 129.7 | 105.2 | 103.4 | x | 2 491.5 | |
| 2018 | 121.3 | 127.5 | 125.9 | x | 3 321.3 | |
| 2019 | 120.4 | 153.9 | 154.8 | x | 4 381.6 | |
| 2020 | 90.3 | 138.9 | 140.5 | x | 4 240.4 | |
| 2021 | 112.1 | 155.3 | 154.5 | x | 5 330.6 | |
| 2022 | 103.0 | 160.3 | 161.1 | 6 873.7 | ||
| 2022 | January | 101.0 | 89.2 | 159.4 | 93.8 | 291.3 |
| February | 138.9 | 119.5 | 177.9 | 111.6 | 387.4 | |
| March | 114.9 | 164.7 | 172.4 | 96.9 | 536.4 | |
| April | 101.8 | 123.9 | 151.9 | 88.1 | 424.4 | |
| May | 108.2 | 158.4 | 164.0 | 108.0 | 546.2 | |
| June | 91.4 | 165.7 | 152.5 | 93.0 | 575.8 | |
| July | 102.7 | 166.0 | 163.0 | 106.9 | 600.8 | |
| August | 99.3 | 153.4 | 152.5 | 93.6 | 553.3 | |
| September | 101.4 | 189.5 | 156.9 | 102.9 | 686.9 | |
| October | 96.8 | 165.5 | 153.1 | 97.6 | 627.2 | |
| November | 107.6 | 209.4 | 168.3 | 110.0 | 800.4 | |
| December | 96.1 | 219.1 | 161.9 | 96.2 | 843.4 | |
| 2023 | January | 94.5 | 84.3 | 151.8 | 93.7 | 342.2 |
| February | 88.8 | 106.1 | 157.3 | 103.6 | 427.7 | |
| March | 90.2 | 148.5 | 155.3 | 98.8 | 600.3 | |
| January-March | 90.8 | 113.5 | 154.8 | x | 1370.2 | |