Hungary's construction sector looks at EU peers in rear-view mirror

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Production in the construction sector decreased in August both in the EU28 and the Eurozone, whereas Hungary’s construction sector recorded the highest monthly growth rate in the entire European Union, Eurostat, the statistical office of the EU, reported on Wednesday.
In August 2017 compared with July 2017, seasonally adjusted production in the construction sector decreased by 0.2% in the euro area (EA19) and by 0.4% in the EU28, according to first estimates from Eurostat.

The 0.2% m/m drop in the euro area is due to building construction falling by 0.2% and civil engineering by 0.1%. The 0.4% decrease in the EU28 is due to building construction falling by 0.6%, while civil engineering grew by 0.4%.

In July 2017, production in construction remained stable in the euro area, while it grew by 0.1% in the EU28.

On an annual basis, construction output grew in 19 member states, and went up by 1.6% in the euro area and by 3.1% in the EU28. The EZ growth is due to building construction rising by 1.7% and civil engineering by 0.6% and the increase in the EU28 is due to civil engineering rising by 3.6% and building construction by 3.0%.

Among Member States for which data are available, the largest decreases in production in construction were recorded in Sweden (-9.7%), Slovenia (-3.6%), Slovakia (-1.4%) and Germany (-1.2%).

The highest increases were recorded in Hungary (+9.8%), Italy (+1.8%) and Bulgaria (+0.9%).

In annual terms, the highest increases in production in construction were recorded in Hungary (+36.8%), Poland (+23.2%) and Sweden (+14.7%). Decreases were observed in Italy (-1.1%), Romania (-0.6%), Belgium and Spain (both -0.4%).
 

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