You are here

Construction production drops in Q1 2020

08/07/2020 10:10

Cyprus construction production fell in the first quarter of 2020 on an annual basis while output prices in construction increased, data released by the Cyprus Statistical Service, on Tuesday, show.

In particular, the index of production in construction during the first quarter of 2020, which includes the period during which COVID-19 containment measures were introduced in Cyprus, reached 181.88 units (base year 2015=100.0), recording a decrease of 0.7% over the first quarter of 2019.

By type of project, an increase of 0.5% was observed for buildings whereas a decrease of 9.5% was recorded for civil engineering projects in the first quarter of 2020 compared to the corresponding quarter of 2019.

At the same time, the output prices index in construction for the first quarter of 2020 reached 113.42 units (base year 2015=100.0), recording an increase of 0.7% over the fourth quarter of 2019. Compared to the same quarter of the previous year, the index recorded an increase of 3.0%.

By type of project, an increase of 0.7% was observed for buildings and of 10.5% for civil engineering projects in the first quarter of 2020 compared to the corresponding quarter of 2019.