Construction output slows to 4.7% in February

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The construction production index recorded a year-on-year increase of 4.7% in February, slowing down by 0.2 percentage points compared to January, the National Statistics Institute (INE) announced today.

According to INE, the two segments that make up the index grew in February year-on-year and slowed down compared to the previous month.

The civil engineering segment grew by 6.2% year-on-year in February, compared to 6.5% in January, while building construction grew by 3.7% year-on-year, compared to 3.9% in the previous month.

In terms of contributions to the index’s year-on-year rate of change, civil engineering accounted for 2.4 percentage points (2.6 in January) and building construction for 2.3 percentage points (2.3 in January).

In February, the year-on-year employment index slowed by 0.4 percentage points to a growth of 3.0%, while wages rose to 11.0%, compared to 10.1% in January.

The monthly change in employment was 0.8% (1.2% in February 2023), while the change in salaries was 3.4% (2.5% in the same month of 2023).

Iris Lavan
Iris Lavan
With a background as a consultant in the medical industry, Iris Lavan brings a wealth of knowledge and expertise to Portugal Pulse. Iris also runs a company in Tel Aviv offering marketing, business development, content creation and public relations services. She holds a degree in economics and management, giving her a solid grounding in business strategy and financial planning. Iris' commitment to Portugal Pulse is reflected not only in her consulting career, but also in her impact on the Portugale media landscape in Israel. She was an interviewer for Hadshot Portugal חדשות פורטוגל, a media outlet that broadcasts news about Portugal in Hebrew, where she provided valuable information on current affairs, healthcare and the economy. Since July 2023, Iris has also been part of the Portugal Pulse team.

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