Construction Output Volume Rises in February
Construction output volume, based on raw data by the Central Statistical Office (KSH), surpassed the previous year’s level by 3.2% in February 2024.
Output of both main groups of construction increased: the construction of buildings by 2.8%, and that of civil engineering by 4.4%.
Among the divisions of construction, production volume decreased by 6.9% in the construction of buildings, and by 3% in civil engineering. Production in specialized construction activities, however, having the largest weight in construction, expanded by 13%.
The volume of new contracts concluded grew by 84.1%. Within it, the volume of contracts for the construction of buildings increased by 30.1%, and that for civil engineering increased by 150.9% year-on-year. In the case of the latter, in addition to the low base, the significant increase is due to contracts concluded for road construction.
The volume of the end-of-February stock of contracts at construction enterprises lessened by 7.6%, within it the volume of contracts was down by 8.7% for the construction of buildings and decreased by 6.6% for civil engineering works compared to the same period of the previous year.
In the first two months of 2024, production volume in construction grew by 9.5% compared to the same period last year.
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