Construction prospered in November, all its components contributed to an increase of production

Before the end of the year, construction companies increased their performance across the whole industry, both domestic and foreign production were in positive figures. A year-on-year growth was supported not only by new construction, repairs and maintenance, but also by other construction works. In terms of production specification, work on engineering constructions continued to grow by double digits, the growth rate over 5% was also speeded up by the dominant construction of buildings.

In November 2023, the volume of construction production¹⁾ represented a value of almost EUR 767 million and increased year-on-year by 6.9%²⁾. Seasonally adjusted, it increased by 2.4% compared to October 2023.

Almost 90% of the total construction production was realized in the territory of Slovakia. Inland production of construction enterprises recorded a year-on-year increase for the seventh month. Currently, it has grown by 7.3%, while its growth rate accelerated to the third highest growth in 2023. The positive result of the whole sector was achieved by a growth of all its components. The volume of important new construction³⁾ increased year-on-year by 7.5% in constant prices, but the growth rate slowed slightly compared to the previous five months. Repairs and maintenance increased by 4.2%, the smallest component, other construction works also grew in the second month, currently by 39%.

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In terms of construction types, civil engineering works (including the construction of roads and motorways) grew year-on-year for the eighth consecutive month, while the value of growth was 11.1% in November. For the second consecutive month, the more important construction of buildings also increased, the pace of its growth accelerated to 5.1%.

The work of construction companies carried out abroad, which represents approximately one tenth of construction production, was higher by 2% year-on-year.

In total, for the eleven months of 2023, construction production recorded a volume of EUR 6.5 billion and rose year-on-year by 2.6%. Only inland new construction increased by 7.1%, minor repairs and maintenance decreased by 4.7%.

In terms of construction types, from January to November of last year, construction production on engineering constructions grew by 17.9%. However, the dominant construction of buildings decreased by 3.2%.

In total of eleven months, the volume of construction works abroad was lower by 3.9% year-on-year.