Feb 14 2012 |
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Building material costs decreased last month
Tuesday, Feb 14, 2012
Gulf News
Abu Dhabi The average prices of several building materials in Abu Dhabi fell in January compared with December with the largest fall recorded in the average price of steel, which declined 5.9 per cent, Statistics Centre Abu Dhabi (Scad) said yesterday.
The prices of other building materials such as PVC pipes fell 5.6 per cent, while transport equipment rents were down 3.9 per cent and the prices of wires for apartments dropped 3.6 per cent, Scad said in a statement.
However, the prices of stainless steel sinks increased 5.7 per cent in January, while those of power cables rose 5.4 per cent from a month ago.
“The figures show the demand for building materials is slackening which could be an indication the local economy may be slowing somewhat. There could also be an excess of supply of building materials which may be bringing the prices down,” Dr Mohammad Amerah, an Abu Dhabi-based economist said, commenting on the Scad report.
By Himendra Mohan Kumar?Staff Reporter
© Gulf News 2012. All rights reserved.
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