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Construction industry in Slovakia back on track in 2010
Monday, 15, March 2010


After serious reverses last year, growth in the Slovak construction industry should resume in the next few quarters, partly because of low base effects and an expected increase in the number of large construction contracts.Last year, the Slovak construction industry saw a major decline after the construction boom. Construction output fell by 11.3%, in contrast to a 12% increase in 2008. The steepest reduction was seen in repair and maintenance work, whereas there was a 10.9% fall in the volume of new construction, modernisation and reconstruction.

The slight increase in civil engineering work (0.9%) was unable to counterbalance the steep decline in the construction of buildings (-15.1%).The residential category started to slump as early as 2008, with a serious decline in the second quarter of 2009, when there was a 50% year-on-year reduction in orders for new residential construction. Activity in non-residential construction, which is the most prominent subdivision of Slovak construction production, was also dented substantially as demand for offices and retail space slumped.
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