Slovakia's construction output amounted to €502.3 million in August 2021, which represented year-on-year (y-o-y) growth of 4.2%, according to the Statistics Office report. The figure is reportedly still almost 16% lower than the pre-pandemic level, namely of August 2019.
After seasonal adjustments, construction output was up by 1.9% month-on-month in August. Construction output in August 2021 posted a y-o-y growth only thanks to the double volume of work abroad. However, that only made up 11.3% of overall construction output.
Meanwhile, domestic construction output kept on decreasing as a result of lower output in new construction, highway construction and civil engineering. Nevertheless, both components showed a significantly lower output than two years ago.
A decisive component of construction work, domestic construction output declined by 1.6% y-o-y in August and lagged 21% behind the pre-pandemic levels. This can be ascribed to a 4.6-percent drop in its dominant segment, new construction (including reconstruction), making up more than two thirds of overall domestic output. Meanwhile, improvement in the second segment, repairs and maintenance, going up 3.7% y-o-y, prevented domestic output from showing an even higher fall. However, both segments significantly lagged behind levels seen two years ago.
