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Construction confidence indicator in March 2019

Construction confidence indicator in March 2019

Last update: 28.03.2019
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.03.2019

In March compared with the previous month, the confidence indicator in construction decreased by 3 points to -14,5 due to more unfavourable evaluations of the expected employment. The current result is exceeding the long-term average by 10,5 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months deteriorated by 1 point to 13. A decrease of the construction activity was recorded by 25 % of respondents, its increase by 11 % of respondents, and 64 % of enterprises considered it to be unchanged. Compared with February, the evaluation of the current level of overall order books remained at the level of the previous month (-24). 30 % of respondents consider them to be insufficient, 69 % sufficient and for 1 % of them the current level of orders was more than sufficient. 42 % of respondents included weather conditions, 35 % insufficient demand, 34 % financial constraints, 22 % shortage of employees and 3 % lack of materials and mechanisms into the most significant factors* limiting a growth of construction production currently. Respondents also report: lack of qualified staff, high competition, seasonal nature of work, lack of transparency of public procurement and payment recklessness of customers. 16% 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, decreased by 6 points to -5. Over the next three months, 14 % of respondents expect a decrease of employment, 71 % expect a stable development and 15 % of enterprises expect an increase. Compared with February, the business balance of the expected construction production prices over the next three months decreased by 20 points to -3, mainly due to enterprises performing construction of buildings. 17 % of respondents expect a decrease in the price level of own production, 69 % do not expect any price changes and 14 % of respondents expect their increase. Evaluations of the business situation of enterprises expressed by business balance (2) deteriorated compared with the previous month (decrease by 2 points). 11 % of respondents expect a deterioration of the business situation, 73 % do not expect changes in the development and 16 % of enterprises expect an improvement of the situation. Responses relating to the expected building activity over the next three months,  the business balance increased by 7 points to 20 compared with February, mainly due to enterprises performing civil engineering and specialised construction works. A higher building activity is expected by 53 % of construction enterprises, 41 % expect a stabilization of the current level and 6 % of enterprises expect its decrease.

Based on orders, companies have work orders for 8,4 months on average. By size categories, there are the most work orders in enterprises employing 500 and more people (12,2 months) and in terms of production specification, the enterprises performing civil engineering (10,7 months). In territorial terms, respondents confirmed the most orders upon contract in the regions of Bratislava (10,4 months), and the lowest in the region of Banská Bystrica (4,6 months) and Trnava (3,9 months).

Note: * In March 2019, 317 respondents participated in the survey representing the entire construction sector.

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  • Slovak Republic
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