Poland's construction industry has swung into a decline after four months of improvement (which led to the first annual since May of 2012), it transpires from the recent output data by national stats office GUS. In January of 2014, the construction and assembly production (in constant prices), including investment and repair work, carried out domestically by construction enterprises employing more than 9 persons, was down by 3.9% on the year (and it plummeted by 64.0% m/m).
Market consensus was growth of 1.3-1.7% y/y vs. December’s rise of 5.8% y/y, November's fall of 2.9% y/y, October's drop of 3.2% and September's decline of 4.8% y/y.
After eliminating the seasonal factors, in January, construction and assembly production reached the level by 3.9% lower than in the corresponding month of the previous year and in comparison to the previous month, it decreased by 1.4%.
In relation to January of 2013, a decrease in production was recorded in entities specializing in civil engineering – by 10.1%, in entities dealing mainly with specialised construction activities by 2.0% and in entities whose basic type of activity is the construction of buildings production reached the same level as in the corresponding month of the previous year.
Related Articles
Poland’s BGK to begin operations in Ukraine under new cooperation deal
Polish state development bank BGK will launch operations in Ukraine following the signing of a cooperation agreement between the two countries’ economic ministries, reported Ukraine Business News. ... ... more
Ukraine’s NovaPay launches European app for financial services with Polish partner
Ukrainian financial services group NovaPay has launched a European version of its mobile application, aimed at Ukrainians and EU residents, in partnership with Polish payment institution Quicko, ... more
Russian drones targeted Rzeszów airport hub, media claim
Russian drones, which breached Polish airspace in the early hours of September 10, might have been targeting the airport in Rzeszów, which is vital for the West’s military supplies to Ukraine, ... more