The value of construction works in the third quarter amounted to EUR 157.08 million and is 9.7% less compared to the same period last year, Monstat data show.
Compared to the second quarter of this year, the value of construction works increased by 2.1%.
– Effective hours spent on construction sites in the third quarter are 5.7% lower than in the same period last year. Compared to the second quarter of this year, they are 1.3% lower – they stated.
As Monstat explained, the value of completed construction works includes material costs, labor costs, demolition costs, site preparation, installation costs, general costs and profit. The value does not include the costs of land acquisition, design, supervision and VAT.
They also state that data on the value of completed works refer to works performed in the reporting period on completed and unfinished buildings.
The effective hours of work performed include the hours worked by workers engaged on construction sites in regular working hours as well as in overtime hours.