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Construction output volume grew by 3.9% year-on-year in March based on raw data, or by 2% when adjusted for working days. On a monthly basis, seasonally and working-day adjusted figures showed a 0.5% increase compared to February.
Both main segments of the sector contributed to the annual growth. The construction of buildings rose by 4.4%, while civil engineering output increased by 3%. At a more detailed level, building construction expanded by 5.4%, while specialized construction activities, which carry the largest weight in the sector, grew by 7.3%. Civil engineering output, however, showed a mixed picture, declining by 8.3% in certain subsegments.
Despite the improvement in output, forward-looking indicators were less encouraging. The volume of new contracts signed in March was 2.9% lower than a year earlier. Within this, contracts for building construction fell sharply by 19.2%, while civil engineering contracts rose by 26.2%, suggesting diverging trends between segments.
The total stock of contracts at the end of March was 4.8% higher than a year earlier. However, this increase was driven by civil engineering, where the contract volume rose by 9.2%, while the stock of building construction contracts declined by 4.6%.
Looking at the first quarter as a whole, construction output was 4.2% lower than in the same period of 2025, highlighting ongoing weakness in the sector despite the March rebound.
Cost pressures also persisted. Construction producer prices increased by 4.7% year-on-year in the first quarter, with the largest rise recorded in specialized construction activities (5.4%), followed by civil engineering (4.1%) and building construction (4.0%). Compared to the fourth quarter of 2025, prices were up by 1.8%.
The data suggests that while construction activity showed short-term improvement in March, the sector continues to face structural challenges, with declining building contracts and rising costs weighing on the outlook.
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