Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Construction for Hungary
PRCNTO01HUA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
150.28
Year-over-Year Change
77.97%
Date Range
1/1/1995 - 1/1/2023
Summary
This economic indicator measures the production volume of construction activity in Hungary. It serves as a key metric for tracking the health and growth of the Hungarian construction industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Construction for Hungary data series tracks the total volume of construction output in the country. It provides insights into the overall level of construction activity and can be used to assess trends in the broader economy.
Methodology
The data is collected through surveys of construction firms and contractors.
Historical Context
This indicator is closely monitored by policymakers, economists, and investors to gauge the strength of the Hungarian construction sector and its contribution to national economic performance.
Key Facts
- Construction accounts for approximately 5% of Hungary's GDP.
- Production volume in the Hungarian construction sector declined by 2.8% in 2020.
- New residential construction starts increased by 10% in the first quarter of 2022.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total volume of construction output in Hungary, providing insights into the level of activity in the country's construction sector.
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a key driver of economic growth, and this data helps analysts and policymakers assess the strength and performance of the Hungarian construction sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and contractors in Hungary.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this indicator to gauge the overall health of the Hungarian economy and inform decisions related to economic policy, investment, and infrastructure development.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical lag of 2-3 months between the end of the reference period and the release of the data.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Construction for Hungary (PRCNTO01HUA661N), retrieved from FRED.