XN000022-1994-01-20 — Page 7

THURSDAY, JANUARY 20, 1994

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED AT PRIVATE SECTOR SITES TOTALLED $7.2 BILLION, REING 8.7% LOWER THAN IN THE THIRD QUARTER OF 1992 BUT 3.9% HIGHER THAN IN THE SECOND QUARTER OF 1993.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED AT PUBLIC SECTOR SITES WAS $6.4 BILLION, REPRESENTING INCREASES OF 49.0% AND 5.6% OVER THE THIRD QUARTER OF 1992 AND THE SECOND QUARTER OF 1993 RESPECTIVELY.

THE INCREASES WERE MAINLY DUE TO A FURTHER PICK-UP OF ACTIVITIES IN A NUMBER OF MAJOR INFRASTRUCTURAL PROJECTS.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY GENERAL CONTRACTORS AT LOCATIONS OTHER THAN CONSTRUCTION SITES WAS $3.9 BILLION, WHICH WAS 14.1% AND 16.7% HIGHER THAN IN THE THIRD QUARTER OF 1992 AND THE SECOND QUARTER OF 1993 RESPECTIVELY.

THIS INCLUDED MINOR NEW CONSTRUCTION ACTIVITIES AND RENOVATION WORKS AT ERECTED BUILDINGS AND STRUCTURES.

THE GROSS VALUE OF CONSTRUCTION ACTIVITIES PERFORMED BY SPECIAL TRADE CONTRACTORS AT LOCATIONS OTHER THAN CONSTRUCTION SITES, COMPRISING MAINLY ELECTRICAL AND MECHANICAL FITTING

WORK. TOTALLED $1.7 BILLION, REPRESENTING 25,1% HIGHER THAN IN THE THIRD QUARTER 1992 BUT 5.7% LOWER THAN IN THE SECOND QUARTER OF 1993.

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ANALYSED BY END-USE, RESIDENTIAL BUILDING PROJECTS (INCLUDING COMBINED RESIDENTIAL / NON-RESIDENTIAL BUILDINGS) CONTINUED TO ACCOUNT FOR THE GREATEST PORTION OF THE GROSS VALUR OF CONSTRUCTION WORK PERFORMED AT CONSTRUCTION SITES. THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED IN THESE PROJECTS WAS $4.7 BILLION, WHICH DROPPED BY

BY 8.3% WHEN COMPARED WITH THE THIRD QUARTER OF 1992 BUT INCREASED SLIGHTLY BY 0.5% WHEN COMPARED WITH THE SECOND QUARTER OF 1993.

TRANSPORT PROJECTS CONTINUED ΤΟ FORM THE SECOND LARGEST CATEGORY OF CONSTRUCTION-SITE WORK. THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED FOR SUCH PROJECTS WAS $3.6 BILLION.

THIS WAS 128.6% AND 4.6% HIGHER THAN IN THE THIRD QUARTER OF 1992 AND THE SECOND QUARTER OF 1993 RESPECTIVELY. THE INCREASE WAS MAINLY ATTRIBUTABLE TO A NUMBER OF MAJOR INFRASTRUCTURAL PROJECTS.

COMMERCIAL BUILDING PROJECTS CONSTITUTED THE THIRD LARGEST CATEGORY OF CONSTRUCTION-SITE WORK.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED FOR SUCH PROJECTS TOTALLED $1.7 BILLION, WHICH WAS 5.3% HIGHER THAN IN THE THIRD QUARTER OF 1992 BUT 1.8% LOWER THAN IN THE SECOND QUARTER OF 1993.

OWING TO THE WIDESPREAD SUB-CONTRACTING PRACTICES IN THE CONSTRUCTION INDUSTRY, A CONSTRUCTION ESTABLISHMENT CAN BE A MAIN CONTRACTOR FOR ONE CONTRACT AND A SUB-CONTRACTOR FOR ANOTHER CONTRACT AT THE SAME TIME.

/THE GROSS