Hungarian construction market to recover in 2013-2014

After a poor 2009-2012 for the Hungarian construction industry, from 2013 a visible market recovery is expected. The growth in 2013-2014 will result from the intense execution of EU co-financed infrastructure investments as well as some revival in building construction, particularly in non-residential buildings.
According to our latest report, entitled “Construction sector in Hungary 2012 – Development forecasts for 2012-2014”, weak macroeconomic environment, falling investment demand and poor household finances led to the Hungarian construction sector being in recession since 2006. As a result the value of gross value added in construction in 2011 was almost one third lower than in 2005. However, in the last quarter of 2011 the year-to-year decline of value added decelerated to only 1.4%, a direct result of accelerating public investment financed by EU funds. After 2012 the improving macroeconomic condition and higher public investment are likely to finally reverse this negative trend.

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