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Construction confidence indicator in May 2020

Construction confidence indicator in May 2020

Last update: 28.05.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.05.2020

In May, the confidence indicator in construction decreased by 2,5 points to -47 due to less favourable evaluations of the overall level of orders. The current result is below the long-term average by 23 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months deteriorated by 13 points to -27, mainly due to enterprises performing engineering works and specialized construction works. A decrease of the construction activity was recorded by 42 % of respondents, its increase by 8 % of respondents, and 50 % of enterprises considered it to be unchanged. Compared with April, the evaluation of the current level of overall order books deteriorated by 11 points to -5. 62 % of respondents consider them to be insufficient, 38 % of them to be sufficient and for 0 % of respondents the current level of orders was more than sufficient. 39 % of respondents included financial constraints, 38 % insufficient demand, 22 % shortage of employees, 13 % lack of materials and mechanisms and 6 % weather conditions into the most significant factors limiting a growth of construction production currently. Respondents also report: current situation in Slovakia affected by the coronavirus pandemic and quarantine measures, border closure and the cancellation of orders. 14 % of enterprises do not see any barriers of growth currently. Expectations of respondents in estimation of the employment development improved month-on-month, the business balance of the expected number of employees, increased by 6 points to -38. Over the next three months, 6 % of respondents expect an increase of employment, 55 % expect a stable development and 39 % of enterprises expect a decrease. Compared with April, the business balance of the expected construction production prices over the next three months increased by 31 points to 4, mainly due to enterprises performing construction of buildings and specialized construction works. 13 % of respondents expect an increase in the price level of their production, 79 % do not expect changes and 8 % of enterprises assume a price decrease.

Respondents were contacted after the 1st phase of the release of measures to combat the spread of coronavirus, and during the data collection, the 2nd and 3rd phases of the release of measures were announced (on 6 May 2020). The previous survey in April took place before the announcement of the first phase of the release of measures on 22 April 2020.

Note: * In May 2020, 304 respondents participated in the survey representing the entire construction sector. The values of the confidence indicator in construction and the balances range from -100 (responses of all respondents are pessimistic) to 100 (responses of all respondents are optimistic). Data are seasonally adjusted.

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