07.10.2022
A decrease in construction activity under the weight of inflationary pressures affecting the sector is evidenced by data from the Statistical Office (Cystat) for the second quarter of 2022.
In particular, the construction producer price index for the second quarter of 2022 reached 129.45 points (based on 2015 = 100.00), an increase of 3.6% compared to the first quarter of 2022.
Compared to the corresponding quarter of last year, the indicator increased by 13.1%.
By project type, in the second quarter of 2022, the number of buildings increased by 14.3% and the number of civil engineering projects increased by 8.9% compared to the corresponding quarter of 2021.
This indicator, according to the Statistical Service, can be regarded as an indicator of inflation in construction. The index also captures the change in the total cost of projects for the client.
Activity is reduced
In addition, the construction production index for the same quarter reached 188.58 units (based on 2015 = 100.00), which means a decrease of 6.4% compared to the second quarter of 2021.
The year-over-year decline in the quarter under review is due to a 9.4% decline in buildings, while civil engineering projects saw a 12.6% increase compared to the corresponding quarter in 2021, according to Cystat.
Thus, the quarterly index of construction production can be considered as an indicator of the growth rate of the construction sector in relation to a specific reporting year, the base year.
