Construction production grew again in May, mainly supported by new construction

Within domestic construction production, work for civil engineering, including the construction of motorways, rose by up to double digits. Building construction was slower than last year.

Construction production¹⁾ in May 2023 reached a volume of EUR 595.7 million and it increased slightly by 1% year-on-year²⁾. After seasonal adjustment, production in construction³⁾ was higher by 5.5% than in April 2023.

The majority (more than 91%) of construction production created by construction companies was domestic works in the Slovak Republic. The decisive new construction⁴⁾ after two months of slow-down again rose year-on-year by 3.6% in May. Relatively smaller components of domestic production continued to lag behind last year - repairs and maintenance by 4.1% and other works by up to 16.5%.

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From the point of view of the production focus, year-on-year growth by 10.8% was recorded by works for civil engineering, which also includes the construction of roads and motoways. However, the dominant construction of buildings was lower by almost 4% year-on-year.

The overall result of construction production was also improved by abroad production, which has been higher since February of this year and it increased by 2.6% in May 2023. Their share in the total production was less than 9%.

Development from January to May 2023

In the first five months of 2023, construction production reached a volume of almost EUR 2.4 billion, which represented in constant prices a year-on-year lower value by 0.7%. The volume of domestic construction work was mainly affected by the growing domestic new construction⁴⁾, its value was higher by 3.8% year-on-year. Repairs and maintenance dropped by more than 8%. The volume of abroad construction production was lower than in the corresponding period of 2022 by 2.6%.