Construction Sector Recovers, Growing 2.6% in October

15 December 2017

Production in construction increased by 2.6% in October compared to the same period last year. This growth is due to the acceleration seen in the building construction segment, which offset a downturn in the civil engineering sector, according to the National Statistics Institute (INE).

This is the fastest growth since at least March of 2006, the first month for which data is available, the Jornal de Negócios reported.

According to INE, building construction was the sector that registered the most significant acceleration, increasing from 0.9% to 1.2% between September and October. But civil engineering continues to record the highest growth (4.8%), even considering a slight slowdown (4.9% in September).

The employment index also rose by 2.7% over the same period last year, and the payroll index went up by 4.1% – the highest growth in nine years. The construction sector thus continues to show definite signs of recovery after an extended period of crisis.

A study by the Institute of Economic Research (Ifo, in the German acronym) recently revealed that Portugal would undergo a period of steady expansion in the sector in the next three years. Ifo forecast an expected increase of 15% between the beginning of 2018 and the end of 2020, which will be the fifth strongest in Europe (a group of 19 countries).

Original Story: Idealista

Translation: Richard Turner