ECONOMY INDUSTRY INVESTMENTS

Official statistics: Volume of construction works down 4.8 pct in 2016

The volume of construction works was down 4.8 percent in 2016 from the previous year expressed as raw series, with capital repair works marking the steepest decline of all categories, specifically -23.5 percent, the National Institute of Statistics (INS) announced on Tuesday.

New construction works dropped 2.7 pct, while maintenance and capital repair works advanced 1.5 pct from 2015.

By construction objects, there was an 11.1 percent decline in the volume of engineering works, while residential buildings increased 12.1 pct, and non-residential buildings inched up 1.1 pct.

Expressed as raw series, the volume of construction works was 6.4 percent higher in December compared to November 2016, mainly as an effect of the 37.4 pct growth in capital repair works and the 12.3 pct advance in maintenance and capital repair works. New construction works dropped 2.1 pct.

By construction objects, the volume of engineering works advanced 15.9 pct, non-residential buildings decreased 3.1 pct, while residential buildings declined 16.1 pct.

Expressed as workday and seasonally adjusted series, the volume of construction works was 4.3 percent lower in December compared to the previous month, as a result of a 13 percent decline in new construction works and the 0.1 pct dip in maintenance and current repair works. Capital repair works went up 15.2 pct.

There was a 22.8 pct decline in the output of residential buildings, non-residential buildings decreased 10.1 pct and engineering works dropped 0.6 pct.

In a y-o-y comparison, in December 2016 construction works were 27.7 pct lower as raw series, with decline affecting all categories as follows: capital repair works (- 41 pct), new construction works (- 33.3 pct), current repair and maintenance works (- 0.5 pct). By construction objects, the volume of construction works declined 40.9 pct for engineering works and 6.1 pct for non-residential buildings, while residential buildings were up 16.7 pct.

Expressed as workday and seasonally adjusted series, the volume of construction works was 19.8 percent down y-o-y, as a result of an overall decline of – 41.8 percent in capital repair works, of – 29.9 pct in new construction works and – 3 pct in maintenance and current repair works.

By construction objects, the volume of December’s construction works was 35.4 pct lower y-o-y for engineering works, 1.4 pct down for non-residential buildings, while residential buildings advanced 7.1 pct.

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