Research Briefing | Nov 30, 2021

Untangling the different construction measures

Construction | Untangling the different construction measures

Oxford Economics recommends clients who either operate in, or are heavily exposed to the construction industry use the value of Work Done, as this best captures the level of construction activity happening on the ground. While Construction Gross Output is similar, the estimations and assumptions required to apply the OECD coefficient mean that the value of Work Done is a more accurate reflection of actual construction activity.

You will learn the difference between the value of Work Done and Construction Gloss Value Added (GVA):

  • The value of Work Done (also known as value Put-In-Place) is the total money paid to construction companies for activity they have undertaken. This is the key indicator used in Oxford Economics’ Construction Services.
  • Construction Gloss Value Added (GVA) is the contribution of the construction sector to national GDP.
  • Briefings of the backgrounds of both measures
Back to Resource Hub

Related Services

Post

Slowdown in 2023, except for Chinese cities

Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.

Find Out More

Post

European cities face a tough winter as recession spreads

Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.

Find Out More