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Construction confidence indicator in March 2020

Construction confidence indicator in March 2020

Last update: 30.03.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 30.03.2020

In March compared with the previous month, the confidence indicator in construction increased by 4 points to -4,5 due to less favourable evaluations of the overall level of orders. The current result is exceeding the long-term average by 19,5 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months improved by 3 points to 34, mainly due to enterprises performing specialized construction works. An increase of the construction activity was recorded by 32 % of respondents, its decrease by 25 % of respondents, and 43 % of enterprises considered it to be unchanged. Compared with February, the evaluation of the current level of overall order books improved by 12 points to -6 mainly due to enterprises performing specialized construction works. 13 % of respondents consider them to be more than sufficient, 65 % of them to be sufficient and for 22 % of respondents the current level of orders was insufficient. 34 % of respondents included insufficient demand, 31 % financial constraints, 30 % weather conditions, 25 % shortage of employees and 5 % lack of materials and mechanisms 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 that occurred in the second half of the month. 18 % of enterprises do not see any barriers of growth currently. Expectations of respondents in estimation of the employment development deteriorated month-on-month, the business balance of the expected number of employees, decreased by 4 points to -3. Over the next three months, 16 % of respondents expect a decrease of employment, 65 % expect a stable development and 19 % of enterprises expect an increase. Compared with February, the business balance of the expected construction production prices over the next three months increased by 7 points to 19. 23 % of respondents expect an increase in the price level of their production, 75 % do not expect changes and 2 % of enterprises assume a decrease.

The survey was conducted in the first half of March, therefore the impacts of the spread of coronavirus infection and the implementation of preventive measures declared by the Slovak Government during this period are only partially covered in the surveys.

Note: * In March 2020, 340 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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