The construction sector was not affected by the corona crisis in the first quarter. Not only did turnover turn out higher, the total building sum of permits for construction and renovation work also increased compared to the same period a year earlier. That reports the Central Bureau of Statistics on Wednesday.
The construction sector, not counting project developers, recorded a turnover increase of 9.1 percent. The total construction sum also grew in the first quarter.
Those for new construction and home renovations rose by 11 percent and the sector was able to add permits for 14,000 new homes in the first quarter, a plus of 7 percent. The building price of permits for new commercial properties was 21 percent higher.
In addition, all branches prospered in the first three months of this year. The so-called specialized construction companies such as roofers recorded 11.1 percent more turnover, while entrepreneurs in the earth, water and road construction sector achieved 8.4 percent more turnover.
In contrast, the number of bankruptcies in the sector for the seventh consecutive quarter was higher. Seven companies fell in the first quarter, bringing the counter to 121 at the end of March. Negative companies are now also in the majority, as business confidence is now -10.6, the lowest level in six years.
Half of the entrepreneurs expect less turnover in the second quarter. Another 20 percent of companies expect to cut their workforce.
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