Hungarian construction growth slows in May

Output within the Hungarian construction sector dropped 26.3 percent y-o-y in May, according to the latest figures published by the Central Statistical Office. Despite the slowdown, building construction was up 27 percent, and civil engineering works increased by 25.7 percent. Between January and May, construction output was up by 40.4 percent y-o-y. In May, output totaled HUF 361.5bn. László György, state secretary at the innovation and technology ministry, told the M1 news channel that the construction sector had been growing for three consecutive years, with productivity reaching 23 percent in 2018. The sector is expected to receive orders totaling HUF 25bn between 2018 and 2023, he said.