A worsening outlook for construction companies

Construction companies fear a drop in housing construction and a rise in energy costs as a result of government austerity measures, managing director at the Hungarian Concrete Association András Szilvásy told Világgazdaság. But for concrete makers, most orders come from the business sector and therefore they do not suffer as much from austerity as cement producers. Holcim Hungária chairman and CEO Richard Skene said that they are worried about a potential further weakening of forint. That would trigger an increase in cement prices later. VGO