Stats: Construction Output Down 9.4 percent Y-o-Y in March (2)

Bratislava, May 10 (TASR) - Slovakia's construction output amounted to €484.3 million in March 2024, down 9.4 percent year-on-year (y-o-y), stated the Statistics Office on Friday, reporting a drop for the fourth consecutive month. Seasonally adjusted, construction output fell by 7.5 percent month-on-month (m-o-m). The drop in domestic output was influenced by y-o-y declines in construction work in the dominant area of the sector, new construction, by 10.2 percent, and also in repairs and maintenance, by 4.9 percent. Domestic construction output accounted for just under 90 percent of total construction output. In terms of production focus, the construction of buildings dropped by 8.1 percent. Work on civil engineering structures, which includes motorway construction, fell by 15.5 percent, the biggest drop since January 2022. Not even construction work abroad could improve the overall result of construction output, as it recorded a double-digit slump, of 16.5 percent. Its share of total output only slightly exceeded 10 percent. am/df