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Cyprus

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Production in construction

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National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Statistical Service of Cyprus (Cystat)

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Production in Construction Index

12 June 2025

Detailed definitions can be found in the Commission Implementing Regulation 2020/1197 (Annex IV).

The quarterly Index of Production in Construction serves as a tool for monitoring short-term developments in construction activity. It is a volume index that approximates the changes in value added at constant prices. It can, therefore, be considered as an indication of the growth rate of construction relevant to a specific reference year, the base year.

As from the year 2021, the observation and the reporting unit is the kind-of-activity unit (KAU) as provided in the EBS Regulation. For earlier years, the enterprise was used as a proxy to the KAU.

Market activities in Section F of NACE Rev. 2.

Republic of Cyprus

Quarter.

The Production in Construction Index is based on a sample survey, so errors from sampling are likely to occur. Coverage errors, measurement errors, non-response errors, processing errors are considered to be small but nevertheless actions are undertaken to reduce these different types of errors as much as possible.

The index is revised after the first release since two different methods are used for its compilation. In order to meet the deadline specified by the Regulation (t+2 months), the quantity of construction materials produced and the deflated sales of construction materials are used as a proxy for the index, since no data can be reported by the enterprises at this point in time. For the revised IPC (t+100 days) a simple value index is calculated for the turnover index and a Laspeyres index for the output prices index for certain types of construction projects by comparing the current value with the base period average value. The index is calculated from the results of a sample of enterprises, from respondents common to the two reference periods that are compared. 

Index (2021=100)

For the revised IPC sent to Eurostat at t+100 days after the reference quarter, a simple value index is calculated for the turnover index and a Laspeyres index for the output prices index for certain types of construction by comparing the current value with the base period average value. The index is calculated from the results of a sample of enterprises, from respondents common to the two reference periods that are compared.

For the preliminary IPC sent 2 months after the reference quarter, the quantity of construction materials produced and the deflated sales of construction materials are used. This preliminary IPC is compiled for the purposes of conforming to the deadline provided by the EBS Regulation.

For the compilation of the Production in Construction Index (IPC), two sample surveys and one administrative source are used: the Turnover survey in Construction and the Output prices survey for buildings. For Output prices for civil engineering projects, administrative data are used from the Public Works Department.

The survey for turnover is a sample survey. The sample is updated every five years with the change of the base year. In special cases, such as replacements or deaths/births of significant enterprises, the sample may be also updated. Around three hundred (300) enterprises are surveyed on a quarterly basis. Administrative sources are also used (VAT returns). 

The survey for Output prices is used to deflate the turnover. Around 110 enterprises are surveyed on a quarterly basis, providing  around 3000 prices for specific construction tasks. The IPC is the result of the deflated Turnover.

Quarterly.

The preliminary index of production in construction is compiled two months after the end of the reference quarter based on input data such as the quantity of construction materials produced. The revised index (at around t+100 days after the end of the reference quarter) is based on the sample of enterprises that are active in the construction sector. Data collection starts within a month after the end of the reference period but the number of enterprises that are in a position to report data so early is very limited. Moreover, information from administrative and other sources is used (VAT declarations).

It is possible to compare the national index with that of other European countries, as full compliance with the definitions of the variables laid down in the EBSR is achieved.The EBS Regulation and the EBS methodological guidelines are applied.

Data on production in construction are comparable over time. When significant changes are introduced (e.g. change of classification, base year or methodology), historical time series are recalculated as far back as it is reasonably possible. There are no breaks in series.