Construction output to rise in 2016

SLOVAKIA’S construction sector will experience moderate growth over the next two years, with construction companies expecting output to increase by 2.5 percent in 2016 and by 2.1 percent in 2017.

Illustrative stock photoIllustrative stock photo(Source: SME)

This stems from the results presented by CEEC Research at a meeting of sector leaders in Bratislava on December 8.

The Slovak construction sector experienced an increase of 15 percent over the first nine months of 2015, said CEEC Research director Jiří Vacek.  

“The growth is mainly facilitated by engineering construction, and it’s predominantly due to private investors and motorways,” Vacek said, as quoted by the TASR newswire. “That’s where growth is enormous. Conversely, building construction recorded a slight increase of 0.2 percent, which we hope will be boosted by economic growth.”

Directors of construction companies expect construction output to go up by 2.5 percent on average next year. Large corporations expect an even higher increase – 2.8 percent. Directors of companies engaged in engineering construction expect output to stagnate, while building construction is anticipated to rise by 3 percent.

All stakeholders expect revenues to go up by between 2.6-4.3 percent. There should be a rise in both public and private investments, stated 73 percent of the companies taking part in the survey, as reported by TASR.

Construction companies contracted jobs with an average deadline of 6.4 months in November. Their capacities were filled at a level of 83 percent, which was 5 percentage points less than in September.

Construction growth should continue in 2017. It is expected to increase by 2.1 percent on average. Directors of large corporations anticipate that it will grow by 3.2 percent, while small and medium-sized companies predict an increase of 1.8 percent. The smallest increase is anticipated by engineering companies – 1 percent, TASR wrote.

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