During the final quarter of 2023, the construction sector saw a notable uptick, with the production index marking a substantial yearly growth of 11.6%. This data, sourced from ELSTAT, highlights the evolving landscape of the Construction Production Index, which is benchmarked with a base year of 2015 at 100.0.
As the figures indicate, the Construction Production Index for the fourth quarter of 2023 exhibited an identical increase of 11.6% when compared to its counterpart from the same period in 2022. However, this growth rate is notably lower compared to the significant surge of 31.1% witnessed during the corresponding period of 2022 over 2021.
Further analysis reveals that in comparison to the third quarter of 2023, the fourth quarter of 2023 saw a remarkable surge of 57.6% in the Construction Production Index, compared to the 52.7% increase observed during the corresponding period in 2022 compared to the third quarter of that year.
Additionally, when accounting for seasonal adjustments, the Construction Production Index for the fourth quarter of 2023 showcased a robust increase of 10.5% when compared to the preceding quarter of the same year.
