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 the HSE’s Centre for Business Tendency Studies (Institute for Statistical Studies and Economics of Knowledge (ISSEK)). 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.