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Construction confidence indicator in July 2020

Construction confidence indicator in July 2020

Last update: 29.07.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 29.07.2020

In July compared with the previous month, the confidence indicator in construction increased by 0,5 points to -37,0 due to more favourable evaluations of the overall level of orders (from seasonally adjusted data). The current result is below the long-term average by 13 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months improved by 8 points to -23, mainly due to enterprises performing civil engineering works and specialized construction works. An increase of the construction activity was recorded by 21 % of respondents, its decrease by 32 % of respondents, and 47 % of enterprises considered it to be unchanged. Compared with June, the evaluation of the current level of overall order books  improved by 2 points to -47. 1 % of respondents consider them to be more than sufficient, 55 % of them to be sufficient and for 44 % of respondents the current level of orders was insufficient. 42 % of respondents included insufficient demand, 38 % financial constraints, 23 % shortage of employees, 8 % lack of materials and mechanisms and 7 % 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, cancellation of orders and limits on investments by investors. 21 % 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 1 point to -27. Over the next three months, 28 % of respondents expect an decrease of employment, 65 % expect a stable development and 7 % of enterprises expect an increase. Compared with June, the business balance of the expected construction production prices over the next three months increased by 6 points to -9, mainly due to enterprises performing specialized construction works. 5 % of respondents expect an increase in the price level of their production, 80 % do not expect changes and 15 % of enterprises assume their decrease.

Based on orders, enterprises have reserved work for 10,8 months, on average. By size categories, production is ensured mostly by enterprises employing 500 and more people (18 months) and in and in enterprises performing civil engineering (12,3 months) as regards production specification. In territorial terms, respondents have the most orders upon contract in the region of Bratislava (14,8 months) and the lowest number is in the region of Trenčín (3,9 months) and Trnava (3,4 months).

Note: * In July 2020, 325 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.


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