Construction output in Hungary fell 15.7 percent y-o-y in June based on raw data published by the Central Statistical Office (KSH), which added that the industry was hit hard by the coronavirus pandemic. Construction of buildings decreased by 14.2 percent, while civil engineering fell by 17.5 percent y-o-y. The volume of new contracts dropped 44.8 percent in June, with construction of building contracts falling 34.4 percent and civil engineering contracts decreasing by 55.6 percent. The signs of worsening figures for Hungary’s construction sector were evident in other Q2 indicators, especially in the number of new construction projects begun during the period. New construction starts were 46 percent down from the first quarter of the year. Very few new housing projects began at all during the lockdown period.
