Cyprus records milder decline in construction in Q1

Cyprus recorded a milder decline in the construction sector in the first quarter of 2001, as the production index fell by 7.3% over the first quarter of 2009 compared with a fall of 12.6% in the fourth quarter of 2009 and decline of 10.4% in the third.
However, there was a large difference between the building and civil engineering sectors.
According to the Statistical Service the production index for buildings dropped by 14.3% year on year in the first quarter while the index for civil engineering shot up by 34.6%.
Meanwhile, construction output prices rose by 1.1% over the fourth quarter 2009. Compared to the same quarter of 2009, the index recorded a decrease of 6.1%.
Output prices for buildings fell by 2.9% while the output prices for civil engineering tumbled by 18.2%.