Froze construction output in July

Manufactured construction output in July 2009 maintained its level from the previous month, preliminary data indicate the National Statistical Institute (NSI).

In civil (infrastructure construction of roads, bridges, pipelines, power lines, etc.) construction is an increase of 0.8 percent. Building construction (construction of residential and nonresidential buildings) fell by 0.4 percent and for its substantial share (64.6 percent) in overall construction production has substantial implications for the general index of construction output.
In July 2009 the total construction output decreased by 14.5% compared with same month of previous year.
In the building construction registered a decline in output by 20.6 percent, while civil engineering is only reduced by 0.4% compared to July 2008, indicating that the developers have difficulties to complete the building and started direct their efforts towards completing the civil engineering works relating to infrastructure.

––––––––––––––––– ––––––––––

Finance