Insider Business Output in construction up 13.15%, prices rise 3.9%

Output in construction up 13.15%, prices rise 3.9%

Output in construction rose by an annual 13.1%  in the second quarter of 2018, whereas prices rose by 3.9%, according to data released today by the Cyprus Statistical Service (Cystat).

According to Cystat, the Index of Production in Construction for the second quarter of 2018 reached 176.0 units (base year 2015=100,0), recording an increase of 13.1% compared with the respective period of 2017.

By type of project, an increase of 17.1% was observed for buildings and a decrease of 2.9% for civil engineering projects in the second quarter of 2018 compared to the corresponding quarter of 2017.

As far as prices are concerned, the Output Prices Index in Construction for the second quarter of 2018 reached 104.5 units (base year 2015=100,0), marking an increase of 3.9% compared with the respective period of 2017.

Compared with the first quarter of this year, the index rose by 1.6%, Cystat added.

According to Cystat, prices rose by 3.6% for buildings while prices for civil engineering projects rose by 5.1% compared with the respective period of 2017.

Furthermore, the Price Index of Construction Materials for September 2018 reached 101.12 units (base year 2015=100,00), recording an increase of 0.12% compared to August 2018.

For the period January – September 2018, the index recorded an increase of 1.69% compared to the same period of 2017, Cystat added.

(Cyprus News Agency)

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