Polish construction's output unexpectedly swings into drop of 3.9% y/y in January

By bne IntelliNews February 20, 2014

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

V4 leaders positive after dinner with European Commission president

The head of the European Commission Jean-Claude Juncker held talks with leaders of the Visegrad Group at a nearly three-hour dinner on October 19.  The dinner on the eve of the EU summit was ... more

Poland supports Turkey’s near-dead EU membership bid

Turkish President Recep Tayyip Erdogan received a warm welcome from his Polish peer Andrzej Duda on October 17, as Warsaw said it supported Ankara’s formally ongoing bid to become a member of the ... more

Poland claims there will be “no taboo” in talks with Erdogan

Poland will skip no touchy topics in talks with President Recep Tayyip Erdogan, visiting Warsaw on October 17, the office of President Andrzej Duda said ahead of the visit by the Turkish leader, ... more