Growth on the Czech construction sector slowed to 8.9 percent y-o-y in April, down from from the blistering 12 percent growth recorded in March. The Czech Statistics Office (CSU) reported yesterday that the growth was driven by civil engineering and by an increase in the number of apartments being built. The number of apartment starts rose 34.2 percent compared to last April to 3,341, while the number of completions jumped 26.5 percent to 2,736. The CSU noted that road and railway infrastructure work had gotten underway again in April, thanks to the warmer weather. It said such investments were needed because the World Bank’s ranking of EU countries’ highway networks placed Czech Republic in 25th place out of 29.
