Czech builders improve 2011 outlook but are more pessimistic about next year.

By bne IntelliNews August 31, 2011
Managers of Czech building companies have improved their outlook for the sectors development in 2011 but are now more pessimistic about next year than they were a few months ago, CTK newswire reported citing a study by CEEC Research and KPMG Czech Republic. The construction sector is expected to contract by 4.1% this year, which is an improvement compared to the April survey when the decrease was seen at 5.6%. However, builders, who previously expected to sector to register a slight growth in 2012, are now saying that the industry will continue to contract by 2.4% due to the weak demand from both the private and public sector. Construction output in the Czech Republic decreased by 6.3% on the year in June 2011 following a 4.9% decrease in May, according to data from the statistics office. Second-quarter production fell by 5.7%.

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