Czech construction output falls again in January 2012.

By bne IntelliNews March 14, 2012
Czech construction output fell again in January 2012 after increasing for the first time in nine months in December 2011, data from the statistics office showed. The sector contracted by 5.3% y/y in January 2012, following an annual expansion of 14.6% in the last month of 2011. Output in building construction dropped by 3.2%, after rising at its fastest pace in more than four years by 13.8% y/y in December. Civil engineering production plummeted by 12.7%, following a 17.2% surge in the previous month. The number of employees in the construction sector decreased by 5.5% y/y in January, while the average monthly wage increased by 6.2% to CZK 26,481 (EUR 1,079). In January, the number of granted building permits went up by 6.2% y/y to 6,761 and their total value rose by 1.5% y/y to CZK 23.9bn. The number of newly-started residential units moved up by 10.2% y/y to 2,446 and of completed units surged by 27.2% y/y to 2,577. IntelliNews comment : The weak domestic private and public investments are dampening the sector that had been contracting in most of the months of 2011. Analysts expect the sector to continue declining in 2012 and 2013 and show signs of recovery in 2014.

Czech construction output falls again in January 2012.

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