Depressed demand: Construction works at public-sector sites fell 21.5% in nominal terms from a year earlier, to $3.9 billion in the third quarter.

The total gross value of construction work main contractors performed in the third quarter dipped 1.5% from a year earlier, to $22.3 billion, according to the Census & Statistics Department.

After discounting price changes, the total gross value of construction work fell 3.1% in real terms over the same period.

Analysed by work type, construction work performed at private-sector sites totalled $6 billion in Q3, down 8.3% in nominal terms from a year earlier. In real terms, it fell 9%. The decrease was mainly due to completion of work at some large commercial building sites.

The construction work performed at public-sector sites fell 21.5% in nominal terms from a year earlier, to $3.9 billion in Q3.  It fell 21.8% in real terms. The decrease was mainly due to completion of work on some public residential building projects.

The quarter also saw construction work performed at locations other than construction sites amount to $12.4 billion, up 11.3% in nominal terms over a year earlier. In real terms, the increase was 9%.

Residential work down 1.4%

Analysed by building use, residential projects accounted for the largest share of construction work at construction sites in Q3. They amounted to $3.9 billion, down 1.4% in nominal terms from a year earlier.

Transport projects constituted the second-largest category of construction-site work. They amounted to $1.9 billion, representing a 22.2% decrease in nominal terms from a year earlier.

On a seasonally adjusted basis, construction work fell 1.7% and 2.4% in nominal and real terms in the Q3 compared with Q2.