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Construction confidence indicator in November 2020

Construction confidence indicator in November 2020

Last update: 27.11.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 27.11.2020


In November compared with the previous month, the seasonally adjusted confidence indicator in construction increased by 1,5 points to -48,0 due to more favourable 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 improved by 8 points to -29, mainly due to enterprises performing civil engineering. An increase of the construction activity was recorded by 8 % of respondents, its decrease by 26 % of respondents, and 66 % of enterprises considered it to be unchanged. Compared with October, the evaluation of the current level of overall order books  remained unchanged, at the level of the previous month (-72). 70 % of respondents consider them to be insufficient, 30 % to be sufficient and for 0 % respondents the current level of orders was more than sufficient. 38 % of respondents included financial constraints, 36 % insuffient demand, 25 % shortage of employees, 19 % weather conditions and 4 % 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, cancellation of contracted orders, shortage of orders and competition. 17 % of enterprises do not see any barriers of growth currently. Expectations of respondents in estimation of the employment development improved month-on-month, the business balance of the expected number of employees, increased by 3 points to -24. Over the next three months, 3 % of respondents expect an increase of employment, 63 % expect a stable development and 34 % of enterprises expect a decrease. Compared with October, the business balance of the expected construction production prices over the next three months decreased by 5 points to -13, mainly due to enterprises performing civil engineering works. A decrease in the price level of their own production is expected by 18 % of respondents, 78 % do not consider any price changes and 4 % assume their increase.

Note: *In November 2020, 318 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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