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May construction industry output up 9.6% yr/yr

In May, the volume of construction industry output increased by 10.9% and 9.6% year-on-year in unadjusted and adjusted figures, respectively, the Central Statistics Office (KSH) reported. In the first five months, it rose 13.5% on the corresponding months of 2004. In May alone, the volume of production was 3.1% lower than in the previous month in workday-adjusted and seasonally adjusted figures. As earlier, road and highway projects continued to drive growth. The standing orders of construction industry companies was 35.5% at the end of May than a year before, with a 17.4% increase in the volume of contracts for buildings and 42.9% more orders for roads and highways than 12 months earlier, mostly owing to contracts concluded in 2004. However, the amount of new contracts in the first 5 months of 2005 was 11.7% lower than between January and May 2004.