Construction slowed down year-on-year growth to 3.3 percent in May

Construction production in the Czech Republic slowed down year-on-year growth in May. It grew by 3.3 percent in real terms, down from 4.4 percent in April. This is according to data published by the Czech Statistical Office (CSO). Construction output also rose month-on-month by 0.4 percent.

Ground construction, including residential and non-residential buildings, increased by 3.5 percent in August compared to the same month the previous year.

The output of civil engineering, which is the construction of roads or telecommunications and energy networks, increased by 2.8 percent yearly.

“Construction output in May grew year on year at a similar pace in both segments, and we also recorded month-on-month growth after two months,” said Radek Matějka, director of the CSO’s Department of Statistics on Agriculture and Forestry, Industry, Construction, and Energy.

Year on year, housing starts increased by 24.1 percent, totaling 5309 dwellings.

“This was the highest number since 2006 when we started monthly monitoring, and the growth is entirely behind apartment buildings,” said Petra Cuřínová, head of the Construction and Housing Statistics Department.

The number of completed flats increased by 3.1% year on year to 2,882.

In May, building authorities issued 8,035 building permits, an 8.4 percent decrease from the previous year.

According to the statisticians, the indicative value of these constructions was CZK 49.9 billion, up 33.1 percent from the same period last year.

The average registered number of employees in the construction sector increased by 0.4 percent year on year in the fifth month of the year. In comparison, the average gross monthly nominal wage of these employees increased by 10.8 percent year on year, according to the statisticians.

Source

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