Construction’s October 11% y/y advance brings new record in Romania

The seasonally-adjusted construction works index in Romania reached a new record in October after the not-adjusted index rose by 10.8% y/y, according to data published by the statistics office INS.

The three segments of the market demonstrated visible trends through the first ten months of 2023 – which are the same as those seen in 2022. Namely, despite a peak in the spring, the residential construction segment is gradually losing ground at an annual rate of some 5%, the non-residential segment is gaining ground at a similar rate, while the civil engineering (public infrastructure) projects are demonstrating much stronger growth.

Strictly speaking of the annual increase as of October, the residential segment contracted by 7.1% y/y, the non-residential segment rose by 3.1% y/y, and the volume of civil engineering works soared by 22.9% y/y.

For the 12 months to October, the overall annual growth was +13% y/y. The residential segment contracted by 6% y/y, the non-residential segment advanced by 5% y/y, and the civil engineering segment strengthened by 29% y/y.

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