Construction production index up by 21.9% in 2017

The Index of Production in Construction recorded an increase of 21.9% in 2017 compared to 2016, data released by the Cyprus Statistical Service, on Thursday show.

According to the official data in the fourth quarter of 2017 the index reached 72.1 units (base year 2010=100.0), recording an increase of 12.1% over the fourth quarter of 2016.

By type of project, an increase of 17.6% was observed in buildings while a decline of 7.8% was recorded for civil engineering projects in the fourth quarter of 2017 compared to the corresponding quarter of 2016.

For the period January-December 2017, the overall index registered an increase of 21.9% over the corresponding period of 2016.

In particular, an increase of 25.6% was recorded in the index for buildings and of 8.3% for civil engineering projects.

According to the Statistical Service’s data the Output Prices Index in Construction for the fourth quarter of 2017 reached 98.6 units (base year 2010=100,0), recording an increase of 0.8% over the third quarter of 2017.

However, compared to the same quarter of the previous year, the index recorded a drop of 0.8%.

At the same time, by type of project, an increase of 4.2% was observed for buildings and a decrease of 11.5% for civil engineering projects.

For the period January-December 2017, the overall index registered a decline of 0.3% over the corresponding period of 2016.

An increase of 3.1% was recorded in the index for buildings whereas a decrease of 7.8% was recorded in the index for civil engineering projects.

Source: Cyprus News Agency