The Estimated Tender Value index moderated in February to 153.9, down 7.1 percent m-m, although levels remain well above the same time last year, up by 28 percent. Overall there was no change in the nominal value of civil tenders released during the 1st quarter of 2022 compared to the same period in 2021, but there are strong provincial differentiations. The index is based on estimated monthly civil tender values (in constant prices), smoothed over a running 12 month period.
