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Construction confidence indicator in November 2021
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Construction confidence indicator in November 2021

Last update: 29.11.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 29.11.2021

In November, the seasonally adjusted confidence indicator in construction remained at the level of the previous month (-14,5), when the unfavorable evaluation of the expected employment was eliminated by the favorable development 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 deteriorated by 5 points to -5, mainly due to enterprises performing civil engineering. A decrease of the construction activity was recorded by 12 % of respondents, its increase by 13 % of respondents, and 75 % of enterprises considered it to be unchanged.

Compared with October, the evaluation of the current level of overall order books  improved by 7 points to -23, mainly due to enterprises performing construction of buildings. 3 % of respondents consider them to be more than sufficient, 71 % to be sufficient and for 26 % respondents the current level of orders was insufficient.

34 % of respondents included shortage of employees, 33 % financial constraints, 28 % insufficient demand, 22 % weather conditions and 20 % lack of materials and mechanisms into the most significant factors limiting a growth of construction production currently. Respondents also 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. 21 % 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, dropped by 7 points to -6, mainly due to enterprises performing specialized construction works. Over the next three months, 24 % of respondents expect a decrease of employment, 67 % expect a stable development and 9 % of enterprises expect an increase.

Compared with October the business balance of the expected construction production prices over the next three months increased by 7 points to 42. An increase in the price level of their own products is expected by 50 % of respondents, 40 % do not consider any price changes and 10 % assume their decrease.

Note: * In November 2021, 379 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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