Construction and assembly production in August 2022 The Central Statistical Office is a positive surprise

Construction is another sector of the Polish economy that has to deal with a clear slowdown. It can already be seen that over 20 percent. The increases from the first quarter are not repeatable, but companies are not laying down their arms yet. In August, construction and assembly production was positive. Compared to the same period of the previous year, it increased by 6.1 percent.

In the same CSO report from a month ago the dynamics of production growth in construction was at the level of 4.2 percent. So you can see the progress. Pretty unexpected.

Even before the publication of the latest statistics, economists expected that the growth dynamics of construction and assembly production would remain at a similar level every month earlier. The average of predictions assumed the result at the level of 4.3%.

However, mBank’s economists estimate that construction production is unlikely to recover from the downward trend. In their opinion, the dynamics will continue downward.

PKO BP experts think similarly. “The construction market is behind the peak of production value in the current cycle – production value in each of the three main segments of this market is below the peaks, “we read in the commentary to the latest data.

They note that the positive surprise in August was mainly due to the building construction segment (25.7% y / y) with slight declines in civil engineering and specialized works.

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