Big construction dip in second quarter

Construction and building work slowed markedly in the second quarter of the year according to figures released Thursday by the Central Statistical Bureau (CSB).

Worryingly, civil engineering projects seem to have been particularly sluggish, according to the figures.

Compared to the corresponding period of 2015, during the second quarter of 2016 the construction production (volume) reduced by 19%, according to calendar adjusted data at constant prices.

Construction production at current prices accounted for €325.4 million.

Construction of buildings reduced by 4.7% due to a 9.7% drop in the construction of non-residential buildings, however the production volume of construction of residential buildings went up by 9.9%.

As compared to the second quarter of the previous year, construction of civil engineering structures decreased by 33.8% during the second quarter due to a decrease of 49.2% in the construction of harbors, waterways, dams and other waterworks, a decrease of 41.2% in the construction of bridges and tunnels, as well as a drop of 32.7% in the construction of highways, streets and roads, airfield runways, and railways.

Growth was recorded in the construction of main pipelines, communication and electricity lines (33.9%), as well as in the construction of local pipelines and cables (12.7%).

During the second quarter of 2016, 496 building permits were issued for the construction, capital repairs, reconstruction and restoration of single-dwelling buildings with a total floor space of 93.4 thousand square meters (m2), which is 80 building permits fewer than in the 2nd quarter of 2015, with the total intended floor space being 22.3 % smaller.

Out of the total number of building permits granted during the second quarter of 2016, 363 permits were issued for the construction of new buildings with the intended floor space of 71.5 thousand m2.

51 building permits with a total intended floor space of 61.2 thousand m2 have been issued for the construction of industrial buildings and warehouses.

In comparison to the 2nd quarter of 2015, it is 9 building permits fewer, and the intended floor space has decreased by 18.8%.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles
Economy
Economy