No crisis in construction

2010-01-12



The construction branch suffered no major crisis in 2009 although profits from construction output were lower than expected, according to information presented at a recent conference entitled "Monitoring the Construction Market" organised by the Polish Chamber of Commerce and Wszechnica Budowlana foundation.
A study prepared by Professor Zofia Bolkowska showed that the construction market picked up strongly in the third quarter of 2009. Construction-assembly output was up 9.9% compared with 12 months previously and at the end of November 2009 output was 5,8% (taking into account small construction firms) higher than during the same period of the previous year. This means that growth was lower than had been expected in connection with the growing number of infrastructure projects.
According to our own forecasts, the period 2010-2011 will bring a further growth in the infrastructure sector, which will have a decisive impact on the branch as a whole. In turn, the decisive factor for non-housing construction will be whether foreign investors return to the market, a trend which would trigger growth. In the case of housing construction slightly more flats were completed in 2009 than in 2008. A regression is possible in Polish housing construction in 2010-2011, although it will be far less acute than had been earlier feared.

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