Czech construction sector growth estimated at 7% in 2015

Construction sector may have grown as much as 7 percent in 2015, thanks primarily to transportation infrastructure investments. Public investors were having trouble spending all of the available EU funds, according to the CEEC Research director Jiří Vacek. For its survey, the group’s analysts addressed 109 heads of construction companies active in the Czech market. Construction production is expected to reach a total of CZK 470bn, 14 percent below pre-crisis levels. The president of the Association of Construction Companies (SPS) Václav Matyáš hopes the sector could reach pre-crisis output by 2020.

Residential construction increased by 7.2 percent y-o-y, with 21,945 flats started in the first ten months of 2015. Final results will be known in February.