In a welcome turn of events, the Czech construction industry has shown signs of recovery, with production increasing in July. This growth was primarily driven by civil engineering projects, while building construction remained slightly below last year’s July levels, according to Radek Matějka from the Czech Statistical Office.
The construction sector saw a month-on-month increase of 6.9% and a year-on-year growth of 2%. While building construction experienced a slight year-on-year decline of 0.9%, civil engineering projects surged by an impressive 7.1% compared to the previous year.
However, the estimated value of construction projects granted building permits in July reached 39.4 billion crowns, showing a slight year-on-year decrease. The housing market also faced challenges, with the construction of 2,806 new apartments initiated in July, marking a 5.5% decrease from the previous year. Additionally, 2,719 apartments were completed, representing a 7.2% year-on-year decline.
Despite these mixed results, the overall growth in the construction sector provides a glimmer of hope for the Czech economy, signaling potential recovery and increased activity in the coming months.