Investments increased by 7.8% in the 2nd quarter of 2022
In the 2nd quarter of 2022 the volume of developments increased by 7.8% compared to the same period of the previous year, and by 2.5% compared to the previous quarter (seasonally adjusted). Investments have been impacted by a strong household activity as well as a moderate increase in business and budgetary developments. Manufacturing developments, having a dominant weight, as well as dwelling constructions and property renovations expanded the national economy’s performance, while transportation and storage, furthermore trade related investments held it back.
In the 2nd quarter of 2022 compared to the same period of the previous year:
The volume of investment activity increased by 7.8%, within it, construction investments representing six-tenths of the performance value of investments increased by 4.8%, investments in machinery and equipment, accounting for four-tenths of investments grew by 13%. Within machinery investments, the volume of imported machinery increased more than that of the domestically produced ones.
Among enterprises with at least 50 employees, accounting for 53% of investment output, the volume of developments grew more moderately than the average rate of previous quarters (by 3%). For the budgetary units, which accounted for 12% of investments, a similarly restrained expansion of developments was measured (also 3.0%). Central government bodies and local governments both increased their tangible asset purchases compared to the base period.
Volume changes in investments over the reference period differ between sectors. Developments in manufacturing, representing the largest proportion, accounting for more than a quarter (28%) of developments in the national economy, increased greatly (by 25%), primarily due to the high-volume projects started in the previous periods in the field of electrical machinery manufacturing. There was an expansion in investments in the field of manufacture of machinery and equipment as well as the manufacture of basic metals and fabricated metal products, at the same time the developments in transport equipment and manufacture of pharmaceuticals decreased.
Performance volume of real estate activities, the second largest investor accounting for about one-fifth of developments in the national economy grew significantly, by 19%, primarily due to the large increase in dwelling constructions as well as property renovations, which represent, jointly, a decisive weight.
The investment volume of transport and storage - after the expansion of the previous quarters - decreased by 12% compared to the high base level. The reason for this, among others, is that investments of market-oriented enterprises engaged in transportation and storage fell behind compared to the base period.
The reason for the 1.4% decrease in volume in the trade section is primarily owing to businesses active in wholesale trade holding in their investments.
Investments in agriculture, forestry and fishing once again grew significantly (by 25%), where mainly the larger companies dealing with stock-raising or crop production increased their investment expenditures.
In the 6th largest weight representing arts, entertainment and recreation section investments fell back greatly, by about 30%, primarily due to the lower volume of the competitive sport projects.
Investment outlay of national economy
| Section | 2nd quarter of 2022 | First half of 2022 | ||
|---|---|---|---|---|
| at current prices,billion HUF | volume change, compared to the corresponding period of the previous year, % | at current prices,billion HUF | volume change, compared to the corresponding period of the previous year, % | |
| Total | 3 518 | 7.8 | 5 964 | 8.1 |
| Of which*: | ||||
| manufacturing | 977 | 24.9 | 1 675 | 23.9 |
| real estate activities | 698 | 18.7 | 1 234 | 13.0 |
| transportation and storage | 479 | –11.8 | 717 | –7.9 |
| trade and repair of motor vehicles | 194 | –1.4 | 336 | –4.9 |
| agriculture, forestry and fishing | 171 | 25.2 | 293 | 23.4 |
| arts, entertainment and recreation | 120 | –29.7 | 214 | –18.2 |
* Data of the six largest weight carrying sections, based on investment performance of the given quarter
Manufacturing contributed the most (by 6.0 percentage points) to the 7.8% volume increase of the national economy’s investments in the 2nd quarter of 2022. Investment activity also grew due to the investment performance in real estate activities and agriculture (by 3.4 as well as 1.1 percentage points). At the same time performance decreases in transportation and storage, and arts, entertainment and recreation held back the volume increase (by 2.0 as well as 1.6 percentage points).