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Construction sector reports best result in five years
11 Feb 2014 Flash News
THE CONSTRUCTION sector has reported one of its best economic results in the past five years, with production growing by 10.1 percent year-on-year in December 2013 to €464.6 million. For the whole year, however, production in the sector worsened by 5.3 percent compared to 2012, to €4.624 billion, according to the data provided by the Statistics Office.
“Construction production reported the quickest annual growth since the beginning of the crisis in the construction industry, i.e. since December 2008,” said Ľubomír Koršňák, analyst with the UniCredit Bank, as quoted by the Sme daily.
Production for Slovak construction firms increased by 10.2 percent year-on-year to €446.4 million in December. Its share of overall construction production rose by 0.1 percentage points to 96.1 percent. These developments were affected by an increase of new construction projects, including modernisations and reconstructions, the SITA newswire reported.
The production of construction firms abroad increased by 7.5 percent y/y to €18.2 million, with its share of overall construction production standing at 3.9 percent, SITA wrote.
Throughout the whole year, Slovakia’s construction production dropped by 5.3 percent to €4.382 billion, while production abroad fell by 3.7 percent to €242.8 million.
The positive results were mostly influenced by road construction, which rose by more than 30 percent compared with the previous year. Zsolt Lukáč, head of the Association of Construction Entrepreneurs in Slovakia, however says that December’s numbers were affected by unseasonably warm weather that month. Whether the situation is really improving will be clear in spring when the state will begin the construction of new highway sections, Sme wrote.
Source: SITA, Sme
Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.More from Flash News
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