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Construction Work Continued to Shrink in January - by 8.1 percent Y-o-Y
Tuesday 09 March 2010 Zoom in | Print page
Bratislava, March 9 (TASR) - Construction work carried out by Slovak companies both at home and abroad in January of this year reached a value of €257.5 million, a year-on-year drop of 8.1 percent, the Statistics Office reported on Tuesday.
After seasonal effects are taken into account, construction fell by 3.3 percent in January compared to December 2009.
"Developments in construction, after an almost continuous decline in 2009, were affected by several factors (in January), of which the most important were low demand for construction, financial restrictions, adverse weather conditions and the continuing effects of the economic crisis," said the statisticians.
Construction carried out in Slovakia fell by 8 percent y-o-y to €251.3 million. It was influenced by a fall in new construction work, including modernisation work and reconstruction (down 8.5 percent y-o-y to €199.2 million), and repairs and maintenance (down by 8.2 percent to €50.1 million).
Production carried out by construction companies abroad fell by 18 percent y-o-y in January.
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