29%

of construction companies reduced their overall quantity of work in the third quarter of 2014 — the worst result of the last four years. This information comes from a new research report by HSE ISSEK Centre for Business Tendency Studies.

The report, entitled ‘The Business Climate in Russia’s Construction Industry in Q3 2014’, is based on a quarterly survey of 6,600 heads of construction companies. The survey was conducted by the Federal State Statistics Service (Rosstat). 

The researchers noted a deterioration in the overwhelming majority of key performance indicators, characterizing the condition of the business climate in the industry. Half of the construction company heads (54%) stated that prices for the construction and installation work they perform had increased. At the same time, 71% of contractors experienced rising prices for construction materials and expect a continued increase into the fourth quarter.

Source: HSE website