The trade group noted that construction output in the V4 has been volatile in recent years, alternating between periods of strong expansion and steep contractions—more so than the EU27 average—due in part to the region’s relatively high reliance on public contracts, which have decreased across Europe.
In 2024, construction volume fell year-on-year in most V4 countries and across the EU, based on monthly trends.
Hungary saw growth in the first half of 2024, excluding March, but output began a steady decline from July that persisted into the first quarter of 2025.
The Czech Republic has posted marked expansion since November 2024, outperforming both the EU and regional peers.
Slovakia has also rebounded in recent months following earlier losses.
Poland’s construction sector has continued to contract, except for a temporary uptick in January 2025.
Employment levels across the region remain below 2021 benchmarks, with Hungary experiencing the sharpest decline.
Poland and the Czech Republic have also underperformed, while Slovakia and the EU average have seen gradual increases.
Wages have risen significantly since 2021 across the V4 and the EU, with Hungary recording the fastest growth, followed by Poland, and then Slovakia and the Czech Republic, which aligned with the EU average.
Producer prices surged throughout the region, with Hungary registering a 52% increase over 2021—the steepest among peers—while Slovakia and Poland posted gains of 44.6% and 33.3%, respectively.
The Czech Republic’s price trajectory largely mirrored the EU average, which remained below V4 counterparts.
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