Construction output volume drops by 4.2%

Construction producer prices grew in January-December on average by 5.9% year-on-year.

In December 2024 compared to the same month of the previous year output in both main groups of construction decreased: the construction of buildings by 1.0%, that of civil engineering by 10.2%, year-on-year.

Among the divisions of construction, production volume increased by 2.8% in the construction of buildings, and fell by 24.5% in civil engineering. Production in specialised construction activities, having the largest weight in construction, expanded by 1.3%.

The volume of new contracts concluded went down by 9.4%, within it the volume of contracts for the construction of buildings lessened by 5.2%, those for civil engineering works decreased by 15.1%, year-on-year.

The volume of the end-of-December stock of contracts at construction enterprises was 15.7% higher than one year earlier, within it the volume of contracts was up by 2.7% for the construction of buildings and grew by 24.9% for civil engineering works compared to December 2023.

In the entire year of 2024 compared to the previous year production volume in construction lessened by 0.4% within it construction of building was down by 0.5%, that of civil engineering lessened by 0.1% compared to 2023. The volume of new contracts concluded went down by 2.6% in 2024, within it the volume of contracts for the construction of buildings was 4.1% lower, the volume regarding civil engineering works declined by 0.9%.

In the 4th quarter of 2024, construction producer prices rose by 5.6% compared to the same period of the previous year. Within the divisions of construction prices increased by 6.7% in civil engineering and by 5.8% in the greatest weight carrying specialized construction activities, and went up in a lesser degree, (by 4.3%), in the construction of buildings compared to the 4th quarter of 2023.

Construction prices were 1.2% higher than in the 3rd quarter of 2024.