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 From Hong Kong's Information Services Department
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June 12, 2008
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Statistics
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Q1 construction output value up 8.5%
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Census & Statistics Department

The total gross value of construction works by main contractors rose 8.5% on a year earlier to $24.1 billion in this year's first quarter, according to a Census & Statistics Department quarterly survey.

 

After discounting the effect of price changes, the total gross value rose 5.1% in real terms.

 

Analysed by type, the gross value of construction works at private-sector sites totalled $8.3 billion - up 19.2% in nominal terms and 11.9% in real terms. The increase was mainly associated with the progressive stepping up of works at some large commercial building sites.

 

The gross value of construction works at public-sector sites dipped 9.3% in nominal terms and 14.4% in real terms, to $3.9 billion. The fall was mainly due to completion of works in some large transport projects.

 

For works by main contractors at locations other than construction sites, the gross value amounted to $11.9 billion, up 8.6% in nominal terms and 8.4% in real terms.

 

In terms of end-use, group residential building projects accounted for the largest share, with the gross value at $4.5 billion, up 11.9% in nominal terms.

 

This was followed by commercial building projects, with gross value totalling $3 billion, up 21.8% in nominal terms.

 

On a seasonally adjusted quarter-to-quarter basis, the gross value of construction works by main contractors rose 0.4% in nominal terms, but dipped 1.1% in real terms.