23:17 24 January 2021
Post by: WBJ

Production in construction sector grows up by more than 3% in December

Production in construction sector grows up by more than 3% in December
Source: Photo by Mark Potterton on Unsplash

Construction and assembly production in December was 3.4 percent higher than the year before, according to the latest data from the Central Statistical Office (GUS). This is the first positive dynamics recorded in many months.

From April 2020 data until now, the data showed declines in production compared to the same period of the previous year. The worst situation was in August when production was lower by more than 12 percent. Since then, the situation has gradually improved, and after the November result at the level of minus 4.9 percent, the construction industry turned out to be a plus.

This is quite an unexpected situation, as most economists predicted negative dynamics before the publication. Average predictions assumed a drop in production by slightly more than 2 percent. Pekao economists do not hide their surprise. They indicate that the favorable weather and the calendar layout could have contributed to such a good result. They suggest that the worst should be behind us.

"Compared to December 2019, an increase in construction and assembly production was recorded for entities performing specialized construction works (by 12 percent) and those involved in the construction of buildings (by 4.1 percent), while a decrease in entities constructing civil engineering facilities (by 1 percent)," the release reads.

Compared to November 2020, an increase in the value of works was recorded in all construction sectors. Including units specializing in the construction of civil engineering structures by 37.5 percent, and specialized works by 33.4 percent, and related to the construction of buildings by 30.5 percent.



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