TIRANA, Nov 26lbania’s construction cost index fell by 0.4% on the year in the third quarter of 2009 and was 0.1% lower compared to the second quarter, Albania’s National Statistics Institute (INSTAT) said on Thursday.
The index measured 128.3 points in the third quarter. It measured 100 in the base fourth quarter of 1999.
Albania’s construction cost index for the second quarter was 0.1% lower from the first quarter of 2009 but remained flat on the year.
Demand in construction has been less negative in the current quarter with its balance rising by 1.2 percentage points relative to the second quarter. Employment situation worsened slightly by 0.6 percentage points in the third quarter compared to the second quarter of 2009.
Corruption and informal economy and relations with banks are among the key factors to have adversely affected construction activity, a survey by the central bank shows.
Albania Q3 construction cost index (% change):
Yearly Quarterly
Total -0.4 -0.1
Direct expenses -0.6 -0.1
Additional expenses 0.0 0.0
Expected profit +0.1 0.0
Construction plot area +2.6 0.0
Value Added Tax 0.0 0.0
