Total construction output increased by 7.0%, year-on-year, in October (5.7% after working days adjustment). This figure is a bit higher than our forecast of 6.0%. This growth stemmed mainly from strong domestic investment demand. The average nominal wage grew by 7.7% y-o-y; real wage increased 3.2%. The labor productivity rose by 6.0%. A positive development in the construction sector influenced also employment statistics. Total employment increased by 0.9%, y-o-y.
(David Marek)