PRODUCTION IN CONSTRUCTION - JULY 2023

In July 2023, the seasonally adjusted index of construction production is estimated to decrease by 1.6% compared to June. In the average of the May-July 2023 quarter, construction production fell by 2.5% compared to the previous quarter. On a trend basis, both the calendar-adjusted index (calendar working days were 21 as in July 2022) and the raw index decreased by 1.1%. In the average of the first seven months of 2023, the calendar-adjusted index and the raw index both decreased by 2.3%. 

ANALYSIS 

After the growth observed in June, the seasonally adjusted index of construction production fell cyclically in July, reaching its lowest level since December 2021. Even in comparison with the previous year, the results of the sector remain negative, showing, in July, net of calendar effects, the sixth consecutive trend decline.

FDT CONSULTING