the Czech Construction Industry Recorded a Cagr of Just Over -5% During the Review Period (2009-2013), According to a New Study on ASDReports
The construction industry’s outlook is expected to be positive over the forecast period (2014–2018), with growth supported by road, rail and energy infrastructure expansion in the country. Rising export demand and improving employment conditions are likely to attract investments in the industrial and residential construction markets. CZK594.8 billion (US$30.3 billion) support through the European Union (EU) structural funds program over 2014–2020 will also help grow the country’s construction industry. The industry is expected to record a forecast-period nominal CAGR of over 2%.
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Report highlights:
The Czech construction industry is undergoing a testing period as a result of subdued economic activity. The industry went into recession and registered negative growth rates of just over -6%, 1%, 4% and -9% during the euro zone crisis (2009–2012), then started to show signs of improvement in the third quarter of 2013. According to the Czech Statistical Office (CZSO), the construction industry’s output (in real terms) rose by just over 8% in the first quarter of 2014 as compared to the first-quarter of 2013 and by over 2% when compared to the fourth quarter of 2013. The industry is set to grow further, both in 2014 and over the forecast period, due to improved economic conditions, low interest rates and increased investment. The country has one of the most highly developed transport networks in Central Europe, and is expected to develop over the forecast period. In November 2013, the Czech government gave consent for nationwide transport infrastructure construction through to 2020. The overall outlook for construction in the Czech Republic over the forecast period remains positive.