Luxembourg: Output in the construction sector has fallen in the 2nd quarter of 2008

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Output in the construction sector has fallen off since the 2nd quarter of 2008 in the eurozone, ending the year significantly down (down 10% over one year in December). The December figures are not yet available for Luxembourg, but the two previous months posted a drop of around 4% over one year.
During the second half of 2008, construction costs in Luxembourg rose 1.5% over the half-year and 3.3% over one year. There was little significant movement to report: the highest rise related to earthworks (up 4.4% over the half-year) while tiling and plastering services fell by about 0.5% each. Recent falls in industrial prices (see above) is expected ultimately to have an impact on construction prices.
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