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Wages of construction workers and prices of construction materials for the 4th quarter of 2023

Information from the Statistics and Census Service (DSEC) indicated that the average daily wage of construction workers decreased by 0.9% quarter-on-quarter to MOP775 in the fourth quarter of 2023. The average daily wages of local workers (MOP984) and non-resident workers (MOP693) went down by 0.4% and 0.1% respectively.

In terms of main occupations, the average daily wages of fire service mechanics (MOP834), aluminium/glass installers (MOP828) and air-conditioning mechanics (MOP911) fell by 3.9%, 3.6% and 3.2% respectively quarter-on-quarter, while the wages of concrete formwork carpenters (MOP894), structural iron erectors (MOP878) and electricians & electrical workers (MOP783) rose by 3.0%, 2.9% and 2.5% respectively.

After discounting the effect of inflation, the real wage index of construction workers (94.2) in the fourth quarter went down by 1.1% quarter-on-quarter, with that of local construction workers (97.0) decreasing by 1.0%. For the whole year of 2023, the average wage index of construction workers (95.5) dropped by 0.9% year-on-year in real terms.

As regards construction materials, the average price of concrete (MOP1,090 per cubic metre) decreased by 0.9% quarter-on-quarter in the fourth quarter, while that of spiral & round reinforcing steel bars (MOP5,690 per tonne) edged up by 0.1%. The price index of construction materials for residential buildings went down by 0.3% to 124.2 in the fourth quarter, with the price indices of equipment, timber and concrete falling by 1.3%, 0.9% and 0.6% respectively. For the whole year of 2023, the average price index of construction materials for residential buildings (125.1) dropped by 0.3% year-on-year.

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