Slovak construction market to grow 4% in 2015

According to a new report entitled “Construction sector in Slovakia 2015 - Development forecasts for 2015-2020” published by the analytical and research company PMR, following a year which boasted signs of stabilisation in 2014, growth is expected to return to the Slovak construction industry in 2015. However, the non-residential market continues to lag behind and thus slow down the development of the industry. Shaken confidence among investors, falling liquidities, declining available cash for fresh investments, and the consequent fall in demand for construction work all continued to have a negative effect on the Slovak construction industry in 2013 and 2014. The latter was the sixth consecutive year of decline in construction output. The negative performance of Slovak construction in 2014 was mainly the result of a fall in non-residential construction, which, as in the previous year, saw a more accentuated decline.

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