articles | 09 April 2015

Construction output drops 19% in Q4, 17% in 2014

The construction sector saw its output drop almost 19% in the fourth quarter of 2014 compared to a year ago, accompanied by a marginal 0.1% increase in producer prices, the statistical service said.

Producer prices in construction fell 0.9% in the fourth quarter of 2014 compared to the quarter before, Cystat said on its website today.

In January to December last year, output in construction fell 17% compared to the respective period in 2013, resulting from a 20% drop in buildings and 8.4% decrease in civil engineer projects, Cystat said. In the fourth quarter of last year, the construction of both buildings and civil engineer projects fell almost 19% compared to October to December 2013.

Producer prices in construction in 2014 fell 1.4% compared to the year before, Cystat said. Building projects saw their prices drop 0.6% in 2014 while those for civil engineer projects fell 3.1%. In the fourth quarter of 2014, prices for buildings fell an annual 0.2% while those for civil engineer projects rose 0.7% compared to a year before.

Source: Cyprus Mail

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