Local
articles | 28 March 2014

Dip in construction production

The Index of Production in construction registered a decline of 31.1% for the period January-December 2013, over the corresponding period of 2012.

For the fourth quarter of 2013 the index of production in construction reached 54.9 units (base year 2010=100,0), recording a decrease of 27.6% over the fourth quarter of 2012. A decrease of 26.5% is observed for buildings and of 30.0% for civil engineering projects in the fourth quarter of 2013 compared to the corresponding quarter of 2012.

The Output Prices Index in construction for the fourth quarter of 2013 reached 99.3 units (base year 2010=100,0), recording a decrease of 1.4% over the third quarter of 2013. Compared to the same quarter of the previous year, the index recorded a decrease of 2.9%.

By type of project, a decrease of 1.4% is observed for buildings and of 6.1% for the civil engineering projects in the fourth quarter of 2013 compared to the corresponding quarter of 2012. For the period January-December 2013, the overall index registered a decline of 2.4% over the corresponding period of 2012. A drop of 2.3% was recorded in the index for buildings and of 2.6% for civil engineering projects.

Source: Famagusta Gazette

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