Analysts: Construction sector to miss foreign workers

(ČIA) The construction sector is coping with the coronavirus much better than the industry or foreign trade and will be dampening the impact of deep recession in 2020. In reaction to data published by the Czech Statistical Office, this statement was made by CZECH FUND chief economist Lukáš Kovanda who added that entrepreneurs in the construction sector and developers would be helped by the coronavirus in terms of more easily finding suitable Czech labour, often laid off from production. BH Securities chief economist Štěpán Křeček said that the April decrease in the number of completed flats by 32.5% could create future problems on the real-estate market with a noticeable lack on the offer side before the pandemic started. Komerční banka economist Martin Gürtler believes that the lack of foreign workers on which the construction sector depends will probably be a restricting factor of its further development.



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