Conscruction increases in Cypurs by 9.7% and 36.7% in quarterly and annual basis in Q1 2017

Production in the construction sector in Cyprus increased by 9.7% in the first quarter of 2017 in quarterly basis and by 36.7% in annual basis, according to first estimates from Eurostat, the statistical office of the European Union.

Meanwhile in May 2017 compared with April 2017, seasonally adjusted production in the construction sector decreased by 0.7% in the euro area (EA19) and by 1.1% in the EU28 . In April 2017, production in construction grew by 0.3% in the euro area and by 0.2% in the EU28. In May 2017 compared with May 2016, production in construction increased by 2.6% in the euro area and by 2.5% in the EU28.

The decrease of 0.7% in production in construction in the euro area in May 2017, compared with April 2017, is due to civil engineering falling by 0.9% and building construction by 0.6%. In the EU28, the decrease of 1.1% is due to both building construction and civil engineering falling by 1.1%. ?he largest decreases in production in construction were recorded in Slovenia (-10.6%), Sweden (-7.1%) and Slovakia (-4.9%), and the highest increases in Hungary (+7.6%), Bulgaria (+3.6%) and Italy (+2.7%).

The increase of 2.6% in production in construction in the euro area in May 2017, compared with May 2016, is due to civil engineering rising by 2.8% and building construction by 2.5%. In the EU28, the increase of 2.5% is due to building construction rising by 2.9% and civil engineering by 1.6%. ?he highest increases in production in construction were recorded in Hungary (+35.3%) and Bulgaria (+11.9%). Decreases were observed in Romania (-16.7%), Spain (-5.6%) and Slovakia (-2.1%).

Source: Cyprus News Agency