Residential Construction tracks the actual construction (not sales) of housing and is part of Gross fixed capital formation. GFCF consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units. The GDP used in denominator of the MIP indicator comes from the ESA 2010 transmission programme.
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Eurostat, the statistical office of the European Union
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