Production of construction companies continued to increase, construction of building also progressed again

Production of construction companies continued to grow year-on-year in October as well, new construction including reconstruction and modernization thrived. In terms of production specification, civil engineering works maintained a double-digit growth rate, and the dominant construction of buildings was again in positive figures.

Construction production¹⁾ reached the level of EUR 713 million in October 2023 and increased by 5% year-on-year²⁾. After taking seasonal effects into account, it was lower by 2.1% compared to September 2023.

Domestic construction companies realized almost 91% of the total production of the sector. Domestic construction production continued to grow year-on-year for the sixth consecutive month. Its current increase reached 7% and was the third highest this year. The positive result was mainly supported by more dynamic significant new construction³⁾ by more than 9%.

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In terms of type of construction, the pace of civil engineering work (including the construction of roads and highways) increased for the seventh consecutive month, in October the year-on-year value of their growth reached 17.7%. After 7 months, the more significant construction of buildings finally increased, by 1.2%.

Production of construction companies realized abroad, which, however, does not represent even a tenth of the entire production of the construction sector, decreased year-on-year by 11.2%.

In total, for the ten months of 2023, construction production recorded a volume of EUR 5.7 billion and increased year-on-year by 2.1% in constant prices. Only domestic new construction grew by 7.1%, minor repairs and maintenance decreased by 5.9%.

In terms of type of construction, from January to October of this year, construction production of civil engineering works recorded an almost one-fifth year-on-year increase, but the dominant construction of buildings decreased by 4.1%.

In total, for the ten months, the volume of construction work abroad was lower by 4.5%.