Construction and assembly production in July was almost 11 percent. lower than in the same month last year – according to the latest calculations of the Central Statistical Office (GUS). The declines accelerated several times compared to what we watched a month ago.
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Bank Pekao economists speak of great disappointment in this context and suggest that the weakness of investments in the second half of the year will be one of the main topics that the economy will have to deal with.
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In turn, the economists of ING Bank Śląski point to the collapse in the construction of civil engineering facilities, which includes public sector road investments.
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Compared to June 2020, a decrease in the value of works was recorded in all construction departments, in units performing specialized works – by 1.8%, specializing in the construction of civil engineering structures – by 2%. and carrying out works related to the construction of buildings – by 7.1 percent.
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Amendments to the Labor Code. A large amendment is coming in the fall
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– Against the background of recently published statistics from the labor market on industrial production and retail sales, these data definitely dampen the optimism about the rapid entry of the economy onto the path of growth – indicates Monika Kurtek, economist at Bank Pocztowy.
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– While the industry is still catching up after the deep declines associated with the closure of many factories in April and May, and retail sales are improving results also due to delayed demand, construction is just starting to experience difficulties – he adds.
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The economist emphasizes that due to the pandemic, the private sector has strongly verified its investment plans. Most companies decided to suspend them or postpone them, while households, in turn,, despite record low interest rates, find it much more difficult to obtain financing for the purchase of e.g. real estate.
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– This situation will surely last for many months as the uncertainty about the future is still huge. Unfortunately, the fall in investment will weigh heavily on GDP dynamics, which in my opinion will remain negative until the end of the year. Only the scale of GDP decline, due to consumption and exports, will decrease – predicts Monika Kurtek.
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yesterday (13:01)
discouraged with “professionals”The construction industry will have a hard time not due to the approach of investors, but pseudo professionals who returned to Poland due to pandemics and the prices are pushing up that … Read the whole thing
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yesterday (13:52)
JolaWho believes in their fairy tales. The Central Statistical Office (GUS) is a government agency and, for example, lies that inflation is 4%.
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yesterday (14:53)
MbMore pseudo-experts from the east and it will be fast and reliable. Most of the real Polish professionals work in the west for 20 euros, because for 17 or … Read the whole thing
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