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Construction confidence indicator in October 2021
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Construction confidence indicator in October 2021

Last update: 28.10.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.10.2021




In October, the seasonally adjusted confidence indicator in construction dropped by 1 point to -14,5 due to less favourable evaluations of the overall level of orders. The current result is above the long-term average by 9,5 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months improved by 1 point to 0, mainly due to enterprises performing civil engineering and specialized construction works. An increase of the construction activity was recorded by 24 % of respondents, its decrease by 16 % of respondents, and 60 % of enterprises considered it to be unchanged. Compared with October, the evaluation of the current level of overall order books  deteriorated by 2 points to -30, mainly due to enterpirses performing construction of buildings. 29 % of respondents consider them to be insufficient, 69 % to be sufficient and for 2 % respondents the current level of orders was more than sufficient. 31 % of respondents included shortage of employees, 29 % financial constraints, 28 % insuffcient demand, 19 % lack of materials and mechanisms and 18 % weather conditions into the most significant factors limiting a growth of construction production currently. Respondents further report: a significant increase in the prices of building materials and a reduced demand associated with it, measures related to the coronavirus pandemic and a lack of qualified staff. 24 % of enterprises do not see any barriers of growth currently. Expectations of respondents in estimation of the employment development did not change month-on-month, the business balance of the expected number of employees, remained unchanged, at the level 1. Over the next three months, 13 % of respondents expect an increase of employment, 70 % expect a stable development and 17 % of enterprises expect a decrease. Compared with September, the business balance of the expected construction production prices over the next three months did not change, it remained at the current value 35. An increase in the price level of their own products is expected by 47 % of respondents, 40 % do not consider any price changes and 13 % assume their decrease.

Based on orders, companies have reserved work for 8,0 months, on average. By size categories, work is ensured mainly in enterprises employing 500 and more people (10,8 months) and in terms of production specification, in enterprises employing civil engineering works (9,7 months). In territorial terms, the respodents confirmed the most works upon contract, in the region of Bratislava (9,3 months), the lowest in Prešov (5,8 months) and Trnava (4,3 months).


Note: * In October 2021, 387 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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