Domestic cement consumption fell by 26.9% in Portugal in 2012. According to FEPICOP, only 3.329 million t was sold, the lowest amount on record since 1973. The decline in cement consumption is a continuing trend in the country, where construction has been hit hard by the economic downturn. Domestic demand also decreased y/y in 2011, dropping by 15.6% to 4.548 million t.
In 3Q12, investment in the construction sector fell by 21.6%. According to statistics released by the Instituto Nacional de Estatística (INE), the number of building permits declined by 14.4% y/y to 5100 buildings in the third quarter of the year, the lowest since 1Q01. The number of completed buildings registered also dropped by 1.1% y/y to 6400 building, although this figure does mark a growth of 4.6% when compared to 2Q12.
Edited from various sources by Louise Fordham.