Construction: private investment declines
Private clients invested less in new construction projects last year for the first time in eight years. This is shown by provisional data from the 2015 construction statistics of the Federal Statistical Office (FSO).
According to the FSO survey, construction expenditure rose by a nominal 1.4% year-on-year in 2015. Construction investment in building construction projects increased by 1.7% compared to the previous year, while investment in civil engineering projects rose by 2.1%. Expenditure on public maintenance work decreased. In 2014, total construction expenditure increased by three percent in nominal terms, compared to 3.2 percent in 2013.
Investment in renovation projects rose by 2.7% compared to 2014, while investment in new construction projects increased by 1.2% year-on-year. According to FSO statistics, private clients - i.e. everyone except the federal government, cantons and municipalities - only invested more in renovation (+2.9%), while new construction (-0.8%) declined. According to the Federal Office, this is the first decline in eight years (2007: -0.6%) and the sharpest since 1999 (-1.6%).
Private clients only increased investment in building construction (+0.5%), while investment in civil engineering decreased (-4.0%).
Meanwhile, public clients increased their investments in both renovation projects (+2.4%) and new construction projects (+9.3%). Investments by public clients increased in both building construction (+8.6%) and civil engineering projects (+3.4%).
The work backlog for the following year 2016 for construction projects under construction (including public maintenance work) decreased by 1.5% as at the reporting date of 31.12.2015 compared to the previous year's reporting date. (ah)
