ECONOMY

Volume of construction works as gross series down 5.7 pct in first seven months

The volume of construction works fell by 5.7 pct in the first seven months of the year as compared to the same period of 2016, reads a press release by the National Institute of Statistics (INS) on Thursday.

“The volume of construction works overall fell, as gross series, by 5.7 pct. Decreases were recorded for the following structural elements: maintenance and current repair works by 22.5 pct and in capital repairs by 16.9 pct. New construction works went up by 2.7 pct. By construction objects, engineering works declined by 25.7 pct and non-residential buildings by 11.4 pct. Residential buildings works grew by 81.2 pct,” INS specifies.

As adjusted for working days and seasonality, the volume of construction works overall decreased by 8.1 pct.

“In July 2017, the volume of construction works, as gross series, increased by 2.8 pct as compared to the previous month, and leveled off as series adjusted for working days and seasonality. As compared to the corresponding month of the previous year, it grew as a gross series by 1.4 pct, and as a series adjusted for working days and seasonality, it decreased by 6.2 pct,” the quoted source mentions.

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