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Hungary’s construction sector declined and annual 3-5% in the year to date, according to data compiled by industry association EVOSZ, well under the 15-20% decline for construction companies across the European Union estimated by the European Construction Industry Federation (FIEC), EVOSZ said.
Last week’s review showed order stock down 18-20% from a year earlier, making the decline in new orders the biggest concern for the sector, it added.
The association noted that the number of public procurements for construction projects Jan. 1-May 6 came to just 999, with a value of 498.6 billion forints, down from 1,489 projects with a value of 509.8 billion in the same period a year earlier.