Investments increased by 17% in the 4th quarter of 2018
In the 4th quarter of 2018 the dynamic expansion of investments in the national economy, lasting since the beginning of 2017 continued: the volume of developments exceeded the one of the same period of the previous year by 17%. The high level of growth is primarily attributed to construction investments related to residential buildings and infrastructural developments, as well as to the capacity-increasing investments in manufacturing. Likewise, in 2018 investments volume increased by 17%, to the highest level yet.
In the 4th quarter of 2018, seasonally adjusted:
The seasonally adjusted volume of investments exceeded the previous quarter’s by 3.8%, the average of the quarters of 2015 by 37%.
In the 4th quarter of 2018 compared to the same period of the previous year:
The volume of investment activity rose by 17%, within it construction investments representing nearly six-tenth of the total volume of investments rose by 24%, investments in machinery and equipment representing more than four-tenth of the total value of investments increased by 8.9%.
Investments rose by 10% at enterprises employing at least 50 persons and realising more than half of the investment performance. At the same time they rose by 15% – a slower pace compared to the previous quarters – at budgetary units, these accounting for 15% of the investment performance.
Investment activity rose in the decisive majority of sections of the national economy. Out of the areas representing the largest weights the highest investment volume growth (44%) was recorded in transportation and storage, mainly as a result of ongoing public road reconstructions, and the continuing road, motorway and railway constructions; enterprises engaged in urban and suburban transportation significantly increased their investments as well.
The investment volume of real estate activities, representing 17% of the investment outlay, rose strongly (by 21%), and beside the continuing expansion in dwelling constructions, investment in business facilities for rent (office buildings, warehouses) registered an outstanding growth as well.
Developments in manufacturing, representing more than a quarter of investments in the national economy grew remarkably compared to the previous quarters (by 18%), where investments rose in all sub-sections, except four. The volume of developments grew at the highest extent in the area of manufacture of computer, electronic and optical products, as well as in manufacture of electrical equipment.
Out of the lower weight representing sections in the field of mining and quarrying – having the smallest share - investments grew outstandingly (55%) due to research activities related to mineral oil and natural gas extraction In the expansion of developments of the energy industry (18%) investments in power plants running on renewable energy sources played a part, in the field of accommodation and food service activities (17%) hotel constructions and renovations contributed once again to the growth.
State finance - compared to the previous periods - played a lesser role in the growth of investments in the national economy as a whole. In some, mainly publicly financed areas due to a slowdown in developments financed from EU funds investments decreased or grew at a rate below the national economy average. Investments in the fields of public administration, defence and compulsory social security – despite the high volume of investments related to law enforcement, national defence – decreased by 3.1%, in arts, entertainment and recreation section due to a smaller amount of performance of sports and culture related large-scale investments decreased by 19%. In education – mainly as a result of some high volume projects in higher education – investments increased (by 6.9%), in human health and social work activities – mostly due to developments in in-patient care related investments – the volume of investments grew by 46% compared to the previous year.
In the wholesale and retail trade, and repair of motor vehicles sector, the investment performance growth lasting since the end of 2015 came to an end in the reference period (-9.5%), mainly as a result of lower amounts of investment compared to the high base in the case of enterprises engaged in non-specialised sale of food.
Investment outlay of national economy
| Section | Quarter 4 of 2018 | Quarters 1–4 of 2018 | ||
|---|---|---|---|---|
| at current prices,million HUF | volume index, corresponding period of previous year=100.0% | at current prices,million HUF | volume index, corresponding period of previous year=100.0% | |
| Total | 3 173 666 | 116.9 | 8 495 037 | 117.0 |
| Of which*: | ||||
| manufacturing | 844 182 | 118,5 | 2 233 079 | 106.3 |
| transportation and storage | 594 925 | 144,0 | 1 429 407 | 133.5 |
| real estate activities | 536 938 | 121,0 | 1 407 346 | 117.3 |
| public administration and defence; compulsory social security | 200 024 | 96,9 | 559 967 | 134.7 |
| wholesale and retail trade, repair of motor vehicles and motorcycles | 135 819 | 90,5 | 444 788 | 102.6 |
| agriculture, forestry and fishing | 105 234 | 110,8 | 347 651 | 108.3 |
* Data of the six largest sections based on the whole year’s investment performance.
In 2018 compared to the previous year:
The volume of investments in the national economy grew by 17%, within it the volume of construction investments grew by 22%, investments in machinery and equipment increased by 11%.
Investment performance grew in the case of enterprises employing at least 50 persons, providing more than half of the yearly investments by 8.8% and in the case of budgetary units by 31%.
Considering the whole year investment activity rose in all sections. Among the most important investing sections in the case of manufacturing – this being responsible for more than a quarter of the total investments - by 6.3%, in transportation and storage by 33%, in real estate activities investments grew by 17%.
In the mainly publicly financed areas investments grew in the field of public administration and defence by 35%, in human health and social work activities by 31%, in the section of water supply; sewerage, waste management and remediation activities by 17%. A moderate growth occurred in education (14%) in in the section of arts, entertainment and recreation (8.9%).