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Production In Construction In Cyprus Down for Q2 2020

Production In Construction In Cyprus Down for Q2 2020

In August 2020, the seasonally adjusted production in the construction sector rose by 2.6% in the euro area and by 2.4% in the EU, compared with July 2020, according to first estimates from Eurostat, the statistical office of the European Union.

 

In July 2020, production in construction increased by 0.3% in the euro area while it remained stable in the EU. In August 2020 compared with August 2019, production in construction decreased by 0.9% in the euro area and by 1.5% in the EU. Cyprus produces quarterly data under Council Regulation 1165/98, according to which, production in construction dropped by -12.2% in Q2 2020 compared to Q1 2020 and by -23.1% compared to Q2 2019.

 

In the euro area in August 2020, compared with July 2020, building construction increased by 2.8% and civil engineering by 0.7%. In the EU, building construction increased by 2.7% and civil engineering by 0.5%. Among Member States for which data are available, the highest increases in production in construction were recorded in France (+4.9%), Slovenia (+2.4%) and Hungary (+1.9%). The largest decreases were observed in Slovakia (-2.5%), Belgium (-2.0%) and Czechia (-1.4%).

 

In the euro area in August 2020, compared with August 2019, building construction decreased by 1.8%, while civil engineering increased by 2.3%. In the EU building construction decreased by 2.0%, while civil engineering increased by 0.9%. Among Member States for which data are available, the largest decreases in production in construction were observed in Slovakia (-18.0%), Hungary (-13.6%) and Poland (-12.1%). Increases were recorded in Romania (+12.4%), Slovenia (+4.8%) and Finland (+2.2%).

 

Source: CNA

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