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> How can I use the production indices for buildings?
How can I use the production indices for buildings?
The production index of total output prices in construction is an indicator of the development in the volume of construction output. Construction output is affected by two factors: (1) volume and (2) prices. Dividing the value of construction output by the price index for construction output (x100) gives the volume of output. This is an important component in the analysis of labour productivity.
NB: This index does not reflect changes in building costs of residential and non-residential construction.