Construction activity in Hungary surged 25.8 percent year-on-year in September 2018, following an upwardly revised 25.7 percent jump in the prior month. Output growth picked up for building activity (22.2 percent vs 10.2 percent in August), mainly due to industrial, commercial and dwelling constructions. Meanwhile, civil engineering works rose at a slower pace (30.5 percent vs 50.1 percent), supported by growth in road, railway and utility constructions. Considering the January to September period of 2018, construction activity grew 22.8 percent over a year earlier. On a seasonally adjusted monthly basis, construction output decreased 0.2 percent, after rising 3.2 percent in August. Construction Output in Hungary averaged 3.21 percent from 2001 until 2018, reaching an all time high of 41.60 percent in January of 2018 and a record low of -34.60 percent in March of 2016.
Construction Output in Hungary is expected to be 18.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in Hungary to stand at 9.50 in 12 months time. In the long-term, the Hungary Construction Output is projected to trend around 3.50 percent in 2020, according to our econometric models.