Decline in Czech construction output eases to 4.3% in Oct 2012.

By bne IntelliNews December 11, 2012
Czech construction output declined for the tenth straight month in October 2012 as both building and civil engineering segments shrank, data from the statistics office showed. Still the annual decline slowed to 4.3% in October from 10% in September. When adjusted for working days, the production was 8% lower on the year. Seasonally-adjusted production decreased by 0.7% from September. Output in building construction declined by 1.7% on the year in October, following a 7.2% drop in September. The annual decline in the civil engineering segment nearly halved 9.5% from 16.1.8%. The number of granted building permits in the tenth month of 2012 went down by 2.1% y/y to 9,350 and their total value fell by 4.3% y/y to CZK 25.3bn (EUR 963mn). The number of newly-started residential units fell by 4.7% y/y to 2,337 in October and the number of completed units dropped by 17.3% y/y to 2,401. IntelliNews comment : The weak domestic private and public investments are dampening the sector that has been contracting in each month since the start of 2012. Analysts expect the sector to continue declining in 2013 and show signs of recovery in 2014.

Decline in Czech construction output eases to 4.3% in Oct 2012.

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