Building sector output drops 23.3%

HEAVY year-on-year falls in both commercial and residential construction projects dragged the volume of output in the building sector down by 23.3% in the fourth quarter of 2010 compared to the same three-month period in 2009.

The value of construction output fell by just over 22%, according to latest figures from the Central Statistics Office (CSO). Yesterday’s figures also showed that output volume was 1.9% lower in the fourth quarter of 2010 when measured against the preceding quarter; with value of production falling by 2.6% on a quarter-by-quarter basis.

“The fall in the volume of output reflects year-on-year declines of over 31% and almost 21%, respectively, in residential building work and civil engineering work. Output in non-residential building work fell by 19.6%,” according to the CSO.