The Czech construction sector is expected to fall by 6 percent y-o-y in 2012, with the value of building work estimated to come in at just CZK 430bn, a 25-percent drop compared with 2008. “The downturn has lasted for four years already, and it will probably take some time before we are able to get to record level again,” said Miloslav Mašek, the Association of Building Entrepreneurs (SPS) head, according to ČTK.
Mašek spoke at the Žofín Forum conference on the development of the Czech construction industry, which saw 40,000 jobs disappear in the past few years. Since its peak in 2008, the performance of construction industry has been in free-fall, with the Czech Statistical Office indicating current output is lower than it was even in 2005.
