Construction output in Hungary increased 17.5 percent year-on-year in December of 2018, the lowest annual gain in seven months and following an upwardly revised 27.7 percent jump in November. A slowdown was seen in construction of buildings (21.2 percent compared to 28.2 percent in November) and civil engineering works (18.6 percent compared to 54.1 percent) while specialised construction activities increased slightly faster (14.5 percent compared to 12.9 percent). Considering full 2018, construction output went up 22.3 percent after a 29.7 percent surge in 2017. Construction Output in Hungary averaged 3.45 percent from 2001 until 2018, reaching an all time high of 41.50 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 25.50 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 6.40 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.