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How long can the rally last? 15 January 2017 – Hungarian construction industry output is growing fast. According to market analysts, however, the number of restrictive factors is growing, too. A poor 2016 performance meant a very low base which supported a spectacular relative increase in 2017. Development projects financed by the EU and residential construction drive the industry forward. Growth is set to continue in the next few months: the volume of orders in November was 110 per cent higher than a year before. That said, a lack of workforce and the resulting increase of expenses pose significant problems for construction companies. Also, the future of the discounted VAT rate levied on residential projects is still not clear and if the reduced rate is cancelled the willingness to start new projects may decrease.

Construction industry on the increase again

16 March 2015 – Source: MTI

After a decline in December, the Hungarian construction industry’s output grew again in January as a result of road constructions, railroad reconstructions and public utility development projects. Construction volume of buildings and civil engineering works grew by 6.7 and 10.1 per cent, respectively, which resulted in an overall output growth of 8.2 per cent compared to previous year’s results, the Hungarian Central Statistical Office reported on Monday, 16 March 2015.

After a period of constant growth lasting 21 months construction industry output declined by 2.2 per cent in December 2014 as a result of a drop of 4.9 per cent in the volume of building constructions and an increase of a mere 1.2 per cent in the volume of other construction works – the smallest since February 2013.