Published: November 16 2023
The construction sector in Budapest is experiencing a significant decline, with new orders dropping by 32% in September. This blog post will provide an overview of the current state of the construction sector in Budapest and highlight key statistics and trends.
Decrease in Construction Sector Output
In September, the output of the buildings segment in the construction sector dropped by 9.5%, while civil engineering output saw a slight increase of 0.4%. The total construction sector output for the month reached 732 billion forints (EUR 1.9bn), with the buildings segment accounting for 60% of the total. When compared to the previous month, construction sector output slipped by 1.8% after adjusting for seasonal and workday effects.
Decline in New Orders
The order stock at the end of September was 30.6% lower than the same time period twelve months ago. Within the buildings segment, orders decreased by 13.4%, while civil engineering orders dropped by 42.6%. The overall new orders in the construction sector fell by 32% during this period. Specifically, new orders in the buildings segment saw a significant decrease of 43.9%, while new civil engineering orders decreased by 2.7%.
Overall Decline in Construction Sector Output
From January to September, the construction sector output experienced a decline of 4.7% compared to the base period. This downward trend indicates a challenging year for the construction industry in Budapest.
Conclusion
The construction sector in Budapest is facing significant challenges, with a notable decrease in new orders and output. The decline in the buildings segment and civil engineering orders is a cause for concern in the industry. Monitoring the ongoing trends in the construction sector will be important for businesses and policymakers alike.
Questions & Answers
What is the current situation of the construction sector in Budapest? The construction sector in Budapest is experiencing a decline, with new orders plummeting by 32% in September.
How much did construction sector output reach in September? In September, construction sector output reached 732 billion forints (EUR 1.9bn).
Which segment of the construction sector accounted for the majority of the total output? The buildings segment accounted for 60% of the total construction sector output.
How did the output of the buildings segment change in September? The output of the buildings segment dropped by 9.5% in September.
How did the output of civil engineering change in September? The output of civil engineering edged up by 0.4% in September.
How does the construction sector output compare month-on-month? In a month-on-month comparison, construction sector output slipped by 1.8%, after adjusting for seasonal and workday effects.
How did the order stock of the construction sector change compared to the previous year? The order stock of the construction sector was 30.6% lower at the end of September than twelve months earlier.
How much did orders in the buildings segment decrease by? Orders in the buildings segment were down by 13.4% in September.
How much did orders in civil engineering decrease by? Orders in civil engineering dropped by 42.6% in September.
How did new orders change during the period? New orders fell by 32.0% during the period.
How much did new orders in the buildings segment decrease by? New orders in the buildings segment were down by 43.9%.
How much did new orders in civil engineering decrease by? New orders in civil engineering decreased by 2.7%.
How did construction sector output change from January to September compared to the base period? Construction sector output fell by 4.7% in January-September from the base period.
