13.01.2023
The construction production index in the third quarter of 2022 reached 178.22 units (base year 2015 = 100.00), recording a 5% decrease compared to the third quarter of 2021, according to data published by the Statistical Office of Cyprus.
According to the analysis sorted by project type, in the third quarter of 2022, the number of buildings decreased by 7.3%, while the number of civil engineering projects increased by 10.5% compared to the corresponding quarter of 2021.
The quarterly Construction Production Index serves as a tool for monitoring short-term changes in construction activity. It is a volume index that approximates changes in value added at constant prices. Therefore, it can be considered as an indicator of construction growth rates.
