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Poland's construction sector recorded growth in February

In February 2023, Poland's construction sector grew more than estimated. This growth was due to infrastructure projects, but residential construction remained weak.

Poland's construction sector recorded growth in February

According to the data, construction and assembly production in February 2023 increased by 6.6% compared to February 2022 and by 10.6% compared to February 2021. At the same time, February production was estimated at 2.1% y-o-y. Such indicators stem from the 21.5% annual growth in the civil construction sector in February and the 4.3% annual growth in the private construction sector.

As Monika Kurtek, chief economist at Bank Pocztowy, noted, the positive data on the construction sector came as a surprise. Probably, the indicators were influenced by weather conditions. However, housing construction decreased by 2.8% in February 2023 compared to the same period of the previous year.

The better-than-expected results in the construction sector are due to infrastructure investments and at the same time the bad course of housing construction. The number of apartments under construction in the first half of 2022 was the highest level in history, but the level began to slow down rapidly as demand decreased.

In February 2023, the sentiment in the French construction sector moved in a negative direction again. The companies stated that they had received negative results from their previous activities and could not predict the market due to the current uncertainty. The French rebar market saw a decrease in both prices and sales volume.

In addition, global rebar prices were also re-determined after the earthquake in Turkey. In the European market, since the beginning of the month, it has been seen that the offers of these products have decreased.

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