The decline in the construction industry did not stop, especially new construction continued to lag behind

In July 2024, construction production decreased by more than 4% year-on-year. Its lagging behind was mainly due to the continuing decline in new construction. From the perspective of the type of construction, the construction of buildings and works on engineering constructions did not prosper. Compared to last year, Slovak builders fared better abroad.

Construction production¹⁾ in July 2024 amounted to EUR 644.7 million. It lagged behind last year for the third consecutive month, currently by 4.1%²⁾, which corresponded to the second lowest decrease out of six this year. After seasonal adjustment, construction production decreased by 1.6% month-on-month.

From the structure of construction production, the dominant new construction³⁾ decreased year-on-year by 7.1%, the decline in dynamics was maintained for the third month in a row. The smallest component - other construction works - dropped by more than 40%. On the contrary, repairs and maintenance of buildings increased by 5.1%. Domestic construction production represented almost 89% of the total output of the construction industry.

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Broken down by construction type, building construction slowed down by 3.9% year-on-year, works on engineering constructions, including highway construction, dropped by more than 9%.

Compared to last year, the Slovak construction companies abroad were more successful. Their production rose by double digits for the fourth consecutive month, currently by 13.1%. Its share in total production was 11%.

In total, for the seven months of 2024, construction production represented a volume of almost EUR 3.8 billion and it was lower by 4.3%, year-on-year. Not a single component of domestic production reached last year's level. The dominant new exhibition decreased by 6.3%, repairs and maintenance by 1.2% and other construction works by almost a fifth.

In terms of the production focus, construction output from building construction slowed by 3.4%, works on engineering constructions decreased by 10.6%.

Since the beginning of this year, the volume of construction works abroad increased by 7.4% year-on-year.