Production in construction

Production in construction: March 2024

Economic indicators
Production in construction: March 2024

In March 2024, the seasonally adjusted production index in the construction sector reflected an increase of 1.0% compared to February 2024. The calendar adjusted production index reflected an increase of 7.3% compared to March 2023.

The results for March 2024 are provisional.

From January 2024, the indices are expressed with reference year 2021=100.

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Gross indices (2021=100)

Construction Jan Feb March April May June July Aug Sept Oct Nov Dec
Year 2021 100.2 96.8 122.7 99.0 98.2 119.0 59.8 98.4 118.0 111.7 90.0 86.1
Year 2022 92.7 105.2 123.7 94.4 110.5 114.0 57.5 102.0 116.4 110.1 102.1 83.9
Year 2023 93.0 106.9 119.2 98.6 103.7 119.8 64.5 95.0 112.5 110.9 104.8 83.1
Year 2024 91.8 107.9 111.2                  

Seasonally adjusted index (2021=100)

Construction Jan Feb March April May June July Aug Sept Oct Nov Dec
Year 2021 103.6 97.8 103.4 100.5 99.7 100.0 100.3 98.9 99.8 100.1 96.3 99.7
Year 2022 100.2 101.7 101.5 100.1 101.4 100.5 101.6 101.7 100.4 100.8 102.2 100.8
Year 2023 100.4 102.7 100.5 103.9 101.1 101.6 104.9 99.2 100.9 99.8 101.3 104.5
Year 2024 101.2 103.6 104.6                  

Calendar adjusted index (2021=100)

Construction Jan Feb March April May June July Aug Sept Oct Nov Dec
Year 2021 107.2 97.2 118.5 97.8 102.6 115.0 62.1 96.3 116.0 117.5 90.4 79.3
Year 2022 95.1 105.7 115.9 101.1 105.9 114.6 64.3 99.9 114.4 115.8 102.6 81.7
Year 2023 90.8 107.4 111.5 110.0 103.6 115.8 71.4 92.8 115.0 112.1 100.7 90.1
Year 2024 90.5 107.4 119.6                  

Purpose and brief description

The production index in construction is an indicator that makes it possible to monitor the economic activity evolution in the construction sector in a given reference period. This index is calculated based on the volume of hours worked.

Population

Belgian legal units employing at least 5 persons and carrying out an economic activity in the section F of the Nace rev.2.

Frequency

Monthly.

Timing of publication

The results are available 1 month + 15 days after the reference period

Remark

Results are based on the survey about activity in the building and civil engineering industry (50M).

The attached Excel file contains an overview of indices per sector.

Results for the reference  month and the two last months are provisional.

From the release of March 2017 on January 2017, the index of production in construction will be published separately. The deadline for publication will be one month and 15 days after the reference month.

The software Jdemetra+ replaced Demetra+ for the seasonal adjustment of the production indices in construction as from the release of March 2017 on January 2017.

The method used has remained unchanged. It is still the Tramo seats method based on the ARIMA models.

However, we took the opportunity of the software change to improve the models used.

We replaced the models based on a regression comparing every day of the week by models based on a regression comparing the working days of the week with the weekend days, which are more suitable for this sector.

This change may be an explanation for the revisions observed in the series adjusted for season and working days and in the trends compared to the previously released series.