Slovakias construction output contracts by 7.2% in April 2011.

By bne IntelliNews June 9, 2011
Slovakias construction output declined by 7.2% y/y to EUR 359.4mn in April 2011 after a 0.5% y/y growth in the previous month, the statistics office said. The decrease was mainly due to shrinking domestic output that accounted for 96.5% of the total and dropped by 8.1% y/y. The output in the new construction, reconstruction and upgrade segment declined by 7.9% y/y, while the output in the repair and maintenance segment collapsed by 14.1% y/y. The construction works abroad increased by 25% y/y to EUR 20.1mn. Net of seasonal influences, the construction activity went down by 0.3% m/m. The sector is expected to resume growth in 2012 with expectations mainly linked to the plans of the transport ministry to launch a number of construction projects. The construction output declined by 4.6% y/y in 2010 and the number of completed residential units fell by 9.3% y/y.
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