Cyprus construction dropped 17.1% y/y in Q3

Production in construction fell by 17.1% over the year earlier in the third quarter of 2011.
Production for buildings tumbled by 16.9% while the civil engineering declined by 17.7%.
Meanwhile, the price index of construction materials fell by 0.34% over the previous month in December but rose by 0.16% for the whole of 2012.
The Statistical Service Cystat said that the increase of the index in 2012 over the previous year is mainly due to the price increase of the following materials.
Asphalt concrete: 13.42%, plastic pipes and tubes: 13.29%, bitumen asphalt: 8.35, bricks: 5.51%, plasters, mortars, tile adhesives and grout: 5.44%, paints and solvents: 4.71%, portland cements: 1.96%, building iron: 1.89%, ready-mix concrete: 1.20%.
Materials that recorded a decline were:•wardrobes, cupboards and benches: 8.83%, gravel and sand aggregate: 7.56%, crushed sand: 6.63%, crushed gravel: 5.02%, doors and windows: 4.25%, wires and cables: 2.98%.