Building output dropped 22% in Q1

Tag : construction and building

Official figures show a sharp fall in the volume of activity in theconstruction sector in the first quarter of 2008 compared with thesame period last year.
The Central Statistics Office said its index of production inbuilding and construction showed a drop of 21.6% in volume terms inQ1. The value of production dropped by 18.2% in the same period.
The fall in output was mainly due to a 38% slump in house building,which was only partly offset by a 9% increase in non-residentialbuilding. Civil engineering activity dropped 4%.