Annual Change -5.0%
The Construction Production Index for the third quarter of 2022 stood at 178.22 points (based on 2015=100.00), a decrease of 5.0% compared to the third quarter of 2021.
By project type, there was a decrease of 7.3% in buildings and an increase of 10.5% in civil engineering projects in the third quarter of 2022 compared to the same quarter of 2021.
Methodologicalinformation:
Purpose
The quarterly Construction Production Index is a tool for monitoring short-term developments in construction activity. It is a volume index that approximates changes in value added at constant prices. It can therefore be seen as an indication of the growth rate of the Construction sector relative to a specific reference year, the base year.
Data collection
To calculate the index, a survey of a sample of enterprises active in the Construction sector is carried out. For each reference quarter, data such as work performed, turnover or hours worked by production personnel (depending on the enterprise) are collected. These data are broken down into four project types: single-family houses, multi-family residential buildings, non-residential buildings and civil engineering projects (i.e. projects involving open spaces and generally anything that is not considered a building), based on the international classification of construction works (CC). Data is collected using all possible means (telephone, fax, e-mail), depending on the preference of each enterprise.
Method of calculation
The Production Index is based on 2015, i.e. it shows the change in production volume compared to the average production volume in 2015. In the base year, the average of the four quarters of the Production Index is 100.0. For example, if the production index for a given quarter is 115.8, this means that production increased by 15.8% compared to the average production in 2015. At national level, the index is published without adjustment, i.e. without correction for the number of working days or seasonality. In contrast, indicators adjusted for the number of working days and seasonality are sent to the Statistical Office of the European Union (Eurostat) every quarter.
For more information:
Statistical Service Portal, under Construction and Predefined Tables (Excel)
[/P]Contact:
Evi Kalogirou Dimitriou, tel: +357 22 602168, tel. address: ekalogirou@cystat.mof.gov.cy
(MB/EXP)
Contents of this article including associated images are belongs PIO
Views & opinions expressed are those of the author and/or PIO
Source
Source[/P]
