Construction work 7 percent higher in July 2018 on the year

Ilustracija

The volume of construction work in July 2018 was 7.2 percent higher than in the same month of 2017, and 3.3 percent higher than in June 2018, show preliminary statistics published by the national statistical office (DZS).

Year on year, the volume of construction work done on buildings in July was up 15.7 percent, while the volume of work on other structures, such as roads, railways, pipelines, bridges, dams, and sports venues was 3.1 percent lower.

Analysts of the Croatian Chamber of Economy (HGK) said the data on construction activity confirms positive movements in construction this year, marked by the growth in value of finished work, the growth in employment in the sector, as well as growth of GDP, with some indications of a drop in structural discrepancies between activity in building construction and civil engineering.

They added that the value of new orders, combined with the already high number of issued building permits, suggests a possible continuation of growth in construction works, which will still, however, be hindered by the lack of qualified workforce.

HGK said the construction activity was on the rise in the European Union as well, where it increased in July this year by 3.9 percent on the year, with building construction rising by 4.3 percent, and work on other structures by 2.1 percent.

“It is encouraging to see that the construction work in Croatia was above the EU average in the first five months of 2018, but it must be said that some countries are achieving a much higher growth than Croatia (double-digit growth was recorded in Hungary, Slovenia, Poland, and the Czech Republic), they said.

A drop in construction activity in the EU was recorded only in Romania (-17.4 percent on the year), and Spain (-4.1 percent), the HGK added.

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