Czech construction market to stabilise in coming years

The Czech construction market still continues to decline at single-digit pace and certain growth in output is only likely to return in 2014-2015. Cancelled civil engineering construction, particularly in the road infrastructure sector, combined with weaker development in the non-residential segment are lowering expectations for marked recovery in output sooner than 2015.
Since the second half of 2011 it has been in technical recession; deeper and longer than expected. Furthermore, the expected recovery may come later than originally forecast. The report also examines the hopes for 2013, when a modest revival of aggregate gross fixed capital formation expenditure is expected.

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