Stats: Construction Output Down 4.4 percent Y-o-Y in October

Bratislava, December 11 (TASR) - Slovakia's construction output amounted to €741 million in October 2024, down 4.4 percent year-on-year (y-o-y), the Statistics Office reported on Wednesday. The sector posted an output drop for the eleventh month in a row, although the fall in October was the third smallest seen this year. Seasonally adjusted, construction output decreased by 7.8 percent month-on-month (m-o-m). The overall result was negatively influenced by a 6.6-percent decrease in output of the dominant new construction sector, while repairs and maintenance construction work declined by 5.9 percent. Conversely, the smallest component, other construction work, mounted by more than 10 percent. Domestic construction output accounted for some 89 percent of total construction output. In terms of production focus, the construction of buildings decelerated by 2.4 percent y-o-y. Work on civil engineering structures, which includes motorway construction, fell by 11.5 percent y-o-y. Meanwhile, Slovak construction firms did well abroad, with their output growing by 7.4 percent in October. However, their share of total construction output was only 11 percent. In the first ten months of 2024, construction output amounted to almost €5.9 billion, going down by 6.8 percent y-o-y. None of the components of domestic construction output reached last year's level. Output in the decisive new construction sector decreased by 8.4 percent, while repairs and maintenance fell by 3.6 percent. The volume of construction work carried out by Slovak firms abroad went down by 1.8 percent y-o-y. ko