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Construction confidence indicator in March 2021

Construction confidence indicator in March 2021

Last update: 30.03.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 30.03.2021

In March compared with the previous month, the seasonally adjusted confidence indicator in construction dropped by 1 point to -48,0 due to more unfavourable evaluations of the expected employment. The current result is below the long-term average by 24 points.

Compared with the situation in the previous month, the indicator of the building activity trend over the past three months deteriorated by 7 points to -29, mainly due to enterprises performing specialized construction works. A decrease of the construction activity was recorded by 48 % of respondents, its increase by 1 % of respondents, and 51 % of enterprises considered it to be unchanged. Compared with February, the evaluation of the current level of overall order books  remained unchanged, the balance was at the level of the previous month (-68). 0 % of respondents consider them to be more than sufficient, 36 % to be sufficient and for 64 % respondents the current level of orders was insufficient. 43 % of respondents included financial constraints, 36 % insuffient demand, 27 % weather conditions, 23 % shortage of employees and 12 % 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, loss of investors, employees tested positive for COVID-19 and competition. 11 % 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, rose by 2 points to -28.  Over the next three months, 29 % of respondents expect a decrease of employment, 62 % expect a stable development and 9 % of enterprises expect an increase. Compared with February, the business balance of the expected construction production prices over the next three months increased by 1 point to -6, mainly due to enterprises performing specialised construction works.  An increase in the price level of their own products is expected by 13 % of respondents, 72 % do not consider any price changes and 15 % assume their decrease.

Note: * In March 2021, 292 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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