Building construction projects cause construction spending to rise
Construction spending rose by a nominal 0.8 percent in 2017 compared with the previous year. This was mainly due to construction investment in building construction projects. They increased by 2.1 percent compared with the previous year. By contrast, investment in civil engineering projects fell by 5.2 percent.
Total construction spending comprises construction investments and public maintenance work. According to provisional data from the 2017 construction statistics published by the Swiss Federal Statistical Office (SFSO), they rose by 0.8 percent last year (+1.4% in real terms). In 2016, construction spending had increased by 0.5 percent and in 2015 by 1.4 percent. Spending in public maintenance increased by 0.7 percent compared to 2016. Construction investment, i.e. construction spending excluding public maintenance work, increased by 0.8 percent.
The amount invested in new construction projects increased by 1.5 percent year-on-year and investments in remodeling projects decreased by 0.4 percent compared to 2016. Public-sector clients - i.e. the federal government, cantons and municipalities - invested less in remodeling (-1.7%), while new construction (-1.6%) also declined. Private clients, on the other hand, increased their investments in both remodeling projects (+0.4%) and new construction projects (+2.3%).
Investments in building construction projects increased by 2.1% year-on-year and those in civil engineering projects decreased by 5.2%. Private clients increased investments in building construction (+2.6%), while the amount invested in civil engineering decreased significantly (-14.4%). Investments of public clients decreased both in building construction (-0.3%) and civil engineering projects (-2.9%).
