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Construction output up 17.8% y.o.y. in September

The volume of construction output, based on raw data was 17.8% higher in September 2019 than a year earlier, according to data released by the Central Statistical Office (KSH).

The volume of output increased in the construction of buildings grew by 18.7%, while growth in civil engineering works amounted to 17.2%. In case of specialized construction activities, output increased by 16.2%.

In the construction of buildings, the increase was due to residential, cultural and industrial buildings, while growth was generated by road- and railway constructions in case of civil engineering works.

Based on seasonally and working-day adjusted indices, construction output increased by 5.2% compared to the August data. In Q3 2019, construction producer prices increased by 9.5% year-on-year.

Compared to last September, the volume of new contracts increased by 60%, within which the volume of new contracts concluded in the construction of buildings went up by 16.6%. The volume of new contracts in the construction of civil engineering works the volume was up 98.8%.

High-value contracts regarding road constructions and flood-prevention systems have been concluded in September, KSH says.

The volume of the September month-end stock of contracts at construction enterprises decreased by 7.6% compared to the September 2018 data. The stock volume increased by 53.8% for the construction of buildings and decreased by 20.6% for the construction of civil engineering works.

In the first nine months of 2019, the volume of output of construction grew by 28%.

In Q3 2019, within the divisions of construction, prices increased by 10.7% in the construction of buildings, by 8.8% in civil engineering works and by 9.3% in the greatest weight-carrying specialized construction activities compared to the same period of the previous year.

Construction prices were 1.7% higher than in Q2.