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Construction output volume dropped by 5.6% year-on-year based on raw data in November 2025, while calendar-adjusted figures showed a smaller, but still notable, decrease of 3.6%. Compared with October, construction activity weakened significantly, with seasonally and working day adjusted output down 7.3%.
Performance diverged sharply across the main construction segments. Output in the construction of buildings increased by 7.7% year-on-year, while civil engineering activity fell by a steep 20.0%. The decline in civil engineering was driven largely by a high base, as output in the key roads and railways construction segment dropped by around 30%.
A closer look at construction divisions shows mixed trends. Construction of buildings rose by 31.2% compared to November 2024, largely reflecting a low base a year earlier. Civil engineering output declined by 9.9% year-on-year, while production in specialized construction activities, the largest segment of the sector, fell by 18.7%.
New contract activity also weakened. The volume of newly concluded construction contracts was 5.4% lower than a year earlier. Within this, contracts for building construction edged up by 2.0%, while those for civil engineering works fell by 9.7%.
At the same time, the sector’s order book expanded significantly. The volume of contracts on hand at the end of November was 47.6% higher than a year earlier. Within this stock, contracts for building construction declined by 11.3%, while civil engineering contracts surged by 82.0%, pointing to strong longer-term infrastructure commitments.
Despite the weak November data, construction activity showed modest growth over a longer horizon. In the first eleven months of 2025, construction output volume was up 1.6% compared with the same period a year earlier.
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