Construction industry production was 28.3% higher in February than it was one year ago. This was the thirteenth consecutive month in which the construction industry has achieved year-on-year growth, and the favourable growth trend in excess of 10% observed in previous months also continued in February, Minister of State for Economic Regulation Kristóf Szatmáry stressed.

Production increased in both main construction sectors; by 21.3% in the case of building construction and by 39.2% in the case of other types of (civil) construction. In addition to the growth that is present within the construction industry, the favourable weather in February also contributed to a large increase in production. When analysing the data, it is expedient to take into account the fact that in the first months of the year, including February, the construction industry is responsible for generating some 60% of production within an average month.

The Minister of State pointed out that growth in the construction of buildings continues to be primarily contributable to industrial investment projects while, similarly to previous months, in the case of other types of construction it is the result of railway refurbishing and road construction work, and public utility development.

The volume of new contracts concluded with regard to construction also increased in February and was exactly 29.8% higher than one year previously. The February increase is largely the result of high-value contracts signed with regard to road and bridge construction projects and railways development schemes.

The total value of contracts concluded by construction industry enterprises also exceeded the level for the same period in the previous year, by 65.5%. According to Mr. Szatmáry, it may be stated that since the volume of contracts continues to significantly exceed the level for the same period in the previous year, we can expect to see a further increase in construction industry production during the upcoming months, especially with regard to the construction of buildings.

(Ministry of National Economy)