Spectator on facebook

Spectator on facebook

Construction sector reports best result in five years

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.

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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Kuciak did not even have a computer as a child and he grew up to be an analyst

A village boy who angered Marian Kocner. A profile of Ján Kuciak, who recently received the White Crow award in memoriam.

Ján Kuciak

Lajčák considers resignation if the migration compact is rejected

The foreign affairs minister also admitted to some disputes with PM Robert Fico.

Foreign Affairs Minister Miroslav Lajčák

How to cope with waste

Slovakia lags behind in recycling and reducing waste, but examples of other countries, particularly the Netherlands, are helping Slovakia implement strategies to reduce waste.

Roughly 67 percent of communal waste ended up at landfills in Slovakia, while only 23 percent was recycled.

Europe might not be just an innocent victim

While real estate bubbles in the US, Greece and Spain were partial causes of global crisis, irresponsible lending was also rife in places you hear little about.