CONSTRUCTION PRODUCTION - AUGUST 2023

In August 2023, the seasonally adjusted index of construction output is estimated to grow by 2.1% compared to July. On average for the June-August 2023 quarter, construction production fell by 0.4% compared to the previous quarter.

On a year-on-year basis, both the calendar-adjusted index (calendar working days were 22 as in August 2022) and the raw index decreased by 0.3%.

On average for the first eight months of 2023, the calendar-adjusted index decreased by 2.1%, while the raw index fell by 2.2%.

Commentary

In August, the seasonally adjusted index of construction output returned to growth after the contraction in July.

In year-on-year terms, again in August, there was the seventh consecutive decline, which is, however, more contained than the declines that occurred in previous months.

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