Construction, one of Romania’s economic sectors that made a positive contribution to the GDP growth in the second quarter of the year (Q2), maintained a robust, double-digit annual growth rate in July - 12.2%, according to the National Statistics Institute (INS).
In the first seven months of the year, the volume of construction works was 18.2% higher than in the same period last year.
The civil engineering works rose the most (+25.5%). The residential buildings segment also posted impressive growth (+17.2%). Meanwhile, works on non-residential buildings (including offices, commercial spaces, and logistics and industrial spaces) saw an 8.4% advance.
The residential sector thus remains the most dynamic in the local economy. The (seasonally, workday adjusted) activity in this sector reached an all-time high just before the coronavirus pandemic.
All the construction segments have suffered during the lockdown, but the activity level remained significantly above that seen in the same period last year.
The volume of civil engineering works will mark the third year of positive growth after reaching a bottom in 2017. There is plenty of room for further increases. The non-residential building sector reflects opposite drivers and needs more clarity regarding sanitary circumstances before returning to growth.
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