Are you sure?

Construction output up 11.3% yr/yr in August

Construction industry output rose 11.3% yr/yr in volume terms in August according to working-day adjusted figures and was up 13.9% yr/yr according to unadjusted figures, the Central Statistics Office (KSH) announced on Wednesday. Construction output fell a seasonally- and working-day adjusted 2.2% from July.
Output in the civil engineering branch rose by 2.8% yr/yr in August and by 20.9% yr/yr in the first eight months. The twelve-month growth rate slowed considerably reflecting both a high base and a 2.1% drop in output nominal value from July. The sharp eight-month rise mainly reflected road and motorway construction projects. Eight-month construction industry output rose 14.4% yr/yr. In 2004, construction output rose 5.8%.