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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
HungaryHungary Construction Output YoY climbed to 21.9% in August 2026
FMPMonthlyReleased October 2026
Hungary Construction Output YoY climbed to 21.9% in August 2026, released October 2026, up 34.1% from July's -12.2% reading. The print exceeded the 4.9% consensus by 17.0%. The print is running well above the 12-month average of -1.17%. Over the past 3 months, Construction Output YoY averaged -6.7%, vs -1.4% in the prior 3-month window. Construction Output YoY is now the highest in 36 months.
Latest Release
21.9
Actual
4.9
Consensus
-12.2
Previous
Median Absolute Error
±10.65 percentage points
across last 12 releases
Last Call
Oct 2026
Predicted: 0.95
Actual: 21.9
Error: -20.95
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/HUF | ▼ Inverse | −0.39 | FOREX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.39 | COMMODITIES | Moves against | → View |
| BTC/USD | ▼ Inverse | −0.29 | CRYPTO | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Construction Output YoY (Hungary) was reported at 21.9% in October 2026. This beat the market consensus of 4.9% by 17%. The reading rose from the previous value of -12.2%. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 2.14%, ranging from -12.2% to 21.9% across 11 releases.
WHY IT MATTERS
The trailing three releases averaged 2.83%, up from the prior three at -1.4%. Volatility over the past year (σ 11.12%) is higher than the prior year (σ 5.59%). In October readings over the past 3 years, Construction Output YoY has averaged 0.23%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/HUF (Bearish EUR). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 10.65%.
WHAT TO WATCH NEXT
The next release is scheduled for November 13, 2026.
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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Construction Output YoY - HU
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About Construction Output YoY — Hungary
DEFINITION
Construction Output YoY (Year-over-Year) is a financial indicator that measures the change in the total value of construction projects completed in a given period compared to the same period in the previous year. It provides valuable insights into the growth or decline of the construction industry and can be used to assess the overall health of the economy. This indicator is closely monitored by investors, policymakers, and analysts to make informed decisions about the construction sector and its impact on the broader economy.
WHY THIS INDICATOR MATTERS
Housing data leads broader economic cycles by several months and is highly rate-sensitive, with knock-on effects to construction, materials, and consumer credit. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 21.9 %, consensus 4.9 %. Prior reading (Jul 2026): -12.2 %. Before that (Jun 2026): -1.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - HU Events
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:30 | HU | GDP Growth Rate YoY | 1.5 | 1.7 | 1.8 | 1.65 | Low |
| 07:30 | HU | GDP Growth Rate QoQ | 0.1 | 0.6 | 0.4 | 0.25 | Low |
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | HU | S&P Global Manufacturing PMI | 53.2 | 53 | 53.00 | Low | |