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Construction confidence indicator in December 2020

Construction confidence indicator in December 2020

Last update: 28.12.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.12.2020

In December compared with the previous month, the seasonally adjusted confidence indicator in construction increased by 0,5 points to -47,5 due to more favourable evaluations of the overall level of orders. The current result is below the long-term average by 23,5 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months improved by 5 points to -24. An increase of the construction activity was recorded by 5% of respondents, its decrease by 26% of respondents, and 69 % of enterprises considered it to be unchanged. Compared with November, the evaluation of the current level of overall order books improved by 1 point to -71, mainly due to enterprises performing specialized construction works. 0 % of respondents consider them to be more than sufficient, 32 % to be sufficient and for 68 % respondents the current level of orders was insufficient. 39 % of respondents included financial constraints, 35 % insuffient demand, 25 % weather conditions, 23 % shortage of employees and 8 % lack of materials and mechanisms into the most significant factors limiting a growth of construction production currently. Respondents also report: restrictions related to the coronavirus pandemic and their negative impact on the economy, seasonality and lack of transparency in public contracts. 15 % of enterprises do not see any barriers of growth currently. Expectations of respondents in estimation of the employment development were unchanged, the business balance of the expected number of employees, remained in the value -24. Over the next three months, 2 % of respondents expect an increase of employment, 58 % expect a stable development and 40 % of enterprises expect a decrease. Compared with November, the business balance of the expected construction production prices over the next three months increased by 11 points to -2, mainly due to enterprises performing construction of buildings. An increase in the price level of their own production is expected by 4 % of respondents, 87 % do not consider any price changes and 9 % assume a decrease.

In December 2020, 316 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). Confidence indicator and balances on republic level are seasonally adjusted.

The survey was conducted from 1. to 18. December, therefore impacts of tighter measures against the spread of coronavirus in the second half of the month were only partially captured in the data.
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