Production in Construction down 7.5% in 2020

The Index of Production in Construction during 2020 registered a decrease of 7.5% compared to 2019. A decrease of 7.4% was recorded in the index for buildings and of 7.7% in the index for civil engineering projects.

According to the Statistical Service of Cyprus, during the fourth quarter of 2020 the index reached 221.0 units (base year 2015=100,0), recording a decrease of 2.2% over the fourth quarter of 2019, according to data released Wednesday by the Statistical Service of Cyprus.

By type of project, a decrease of 1.1% was observed for buildings and of 8.6% for civil engineering projects in the fourth quarter of 2020 compared to the corresponding quarter of 2019.

The Output Prices Index in Construction for the period January-December 2020, registered a decrease of 0.8% over the corresponding period of 2019. An increase of 0.8% was recorded in the index for buildings and a decrease of 5.8% in the index for civil engineering projects.

For the fourth quarter of 2020 the index reached 111.01 units (base year 2015=100.00), recording an increase of 1.2% over the third quarter of 2020. Compared to the same quarter of the previous year, the index recorded a decrease of 1.4%.

By type of project, an increase of 1.8% was observed for buildings and a decrease of 11.5% for civil engineering projects in the fourth quarter of 2020 compared to the corresponding quarter of 2019.