In March construction production in the Czech Republic dropped by 8.9 percent y-o-y, according to the Czech Statistical office, and there’s little reason to think the situation will improve for the rest of the year. A decrease in state orders is seen as the main culprit, along with a lack of demand for flats and offices, writes the economic daily Hospodářské noviny. The March decrease in output follows a 16 percent drop in February, the worst result in ten years. The number of construction permits issued dropped by 9 percent y-o-y in March.
