Production and output prices in construction up in 2019

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construction

The Index of Production in Construction rose by 12.3% in 2019, while the Output Prices Index in Construction rose by 6%.

According to data released by the Statistical Service of Cyprus, the Index of Production in Construction for the fourth quarter of 2019 is provisionally estimated to have reached 225.13 units (base year 2015=100,0), recording an increase of 9.8% over the fourth quarter of 2018.

By type of project, an increase of 13.6% was observed for buildings and a decrease of 10.6% for civil engineering projects in the fourth quarter of 2019 compared to the corresponding quarter of 2018.

For the period January-December 2019, the overall index registered an increase of 12.3% over the corresponding period of 2018. An increase of 18.1% was recorded in the index for buildings whereas a decrease of 16.6% was recorded in the index for civil engineering projects.

The Output Prices Index in Construction for the fourth quarter of 2019 reached 112.62 units (base year 2015=100,0), recording a marginal decrease of 0.3% over the third quarter of 2019. Compared to the same quarter of the previous year, the index recorded an increase of 4.8%.

By type of project, an increase of 2.3% was observed for buildings and of 13.1% for civil engineering projects in the fourth quarter of 2019 compared to the corresponding quarter of 2018.

For the period January-December 2019, the overall index registered an increase of 6.0% over the corresponding period of 2018. An increase of 3.6% was recorded in the index for buildings and of 14.8% for civil engineering projects.

Source: CNA