Production in the construction sector and construction costs

The production in construction index provides monthly statistics on output in the sector, referring not only to all new work, but also to repair and maintenance data. The production in construction index is calculated on the base 2010=100.

The construction costs index measures changes in the costs of inputs to the construction process by monitoring separately the cost of each factor. This is a chain-linked index which uses December 2016 as a base for calculations and 2010 as a reference year.

Construction output rose by 0.3% in the three-month period ending in November 2017 and increased by 0.4% compared with October 2017. Moreover, construction output, after adjustment for calendar effect differences, also grew year-over-year, going up 0.6% compared with November 2016.

The average index of the first eleven months of 2017 (referring to calendar adjusted series) was relatively flat, increasing by 0.1% when comparing to the same period of 2016.

In November 2017 the month on month cost index in construction industry was up 0.1% in residential building and grew by 0.2% in road engineering work without tunnel section, while decreased by 0.1% in road engineering work with tunnel section.

In November 2017 there was an overall year-over-year growth for all construction costs indices, that increased by 0.7% in residential building, 1.4% in road engineering work with tunnel section and 2.1% in road engineering work without tunnel section.

The year-over-year rise in all construction costs indices mostly occurred due to increases in construction materials, which grew 2.2% in residential building (+0.2% m-o-m), 4.3% in road engineering work with tunnel section (0.0% m-o-m) and 6.4% in road engineering work without tunnel section (+0.5% m-o-m).