The report detailed how “the contraction in construction became less intense over the course of the year and representing an easing of the recession.”


Through to September 2014, the construction of new houses registered a 13.6% fall on the same period of 2013 when it had seen a 34% plunge with similar figures for the land area attributed building licences.


Meanwhile, the refurbishment and rehabilitation sector saw the number of licences fall back a further 6.1%, against the 23.5% decrease in 2013.


In turn, the indicator for the construction of new non-housing buildings was down by only a relatively minor 3.9% in this period.


In quarter-on-quarter terms, the third quarter actually saw construction take on workers, with around 18,500 more employees than at the end of June, totalling 283,000 even while still 78,000 down in year-on-year terms said Fepicop.


On the positive side, the sector also saw a 34% surge in the value of new public works projects even if they were down 6.1% in terms of total tender numbers.


The sector also has a bad debt pig in the pipe to deal with as the last two years has seen defaults on total credit loaned to the sector rise from 18% to 28%.