Russian construction output falters

Construction output in Russia fell by 1.5% year-on-year in real terms in 2013, according to data provided by the State Statistics Service (Rosstat).

Examining the figures, research company PMR said that in value terms, however, construction output had been worth RUB5,917.2 billion (€124.6 billion) in 2013, against RUB5,177.8 billion (€109.1billion) a year earlier. It said this translated into 3.6% year-on-year growth, while in 2012 it had been 11.1%.

PMR added that in December 2013 alone, Russia's construction output had fallen by 3% year-on-year in real terms, against December 2012 when there had been a 1.6% increase.

At the same time, however, output within the sector was valued at RUB803 billion (€16.9 billlion), as compared to RUB793.9 billion (€16.7 billion) in December 2012. PMR said this meant a modest 1.1% year-on-year growth, compared to December 2012 when it had been 9.9%.

Overall, December 2013 was the fifth consecutive month when construction output was reported to have fallen in yearly terms. In fact, with the exception of May, when it grew by 1.6%, and July, 6.1%, the indicator has been decreasing since April 2013, said PMR.