The value of executed construction works in the fourth quarter of 2023 was 3.1% lower compared to the same period in 2022, according to data from Monstat.
Compared to the third quarter, the value of construction works increased by 10.8%.
The executed effective hours achieved on construction sites were 3.7% lower compared to the fourth quarter of 2022, while they were 3.3% higher compared to the third quarter of 2023.
The value of executed construction works includes material costs, labor costs, demolition costs, site preparation costs, installation costs, general expenses, and profit. The value does not include land acquisition costs, design, supervision, and VAT.
Data on the value of executed works refer to works carried out in the reporting period on completed and unfinished buildings. Executed effective working hours include hours worked by workers engaged on construction sites during regular working hours as well as overtime hours.
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