Construction Output Volume Down 0.5% y.o.y. in August
Construction output volume, based on raw data published by the Central Statistical Office (KSH) was below the previous year’s level by 0.5% in August 2023.
Output of the two main groups of construction changed oppositely: the construction of buildings lessened by 7.6%, and that of civil engineering grew by 13.6% compared to the low base of the previous year.
Among the divisions of construction, production grew by 2% in the construction of buildings, and by 17.4% in civil engineering. Production in specialized constructions decreased by 10.6%.
The volume of new contracts concluded increased by 31.9%. Within it the volume of contracts for the construction of buildings was 22.3% higher, owing to high-value contracts concerning industrial buildings. The volume regarding civil engineering rose by 46.6%compared to the low base of August 2022
The volume of the end-of-August stock of contracts at construction enterprises lessened by 23.9% compared to the end of August 2022 level: within it the volume of contracts was up by 4.9% for the construction of buildings and decreased by 40.6% for civil engineering works, year-on-year.
Construction output decreased by 4.7%, in the first eight months of 2023, compared to January-August 2022.
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