RO construction activity rises in January ahead of difficult year

The volume of construction works in Romania increased in January 2022, as a gross series, by 12.9% compared to January 2021 (YoY), the statistics office INS announced.

The construction activity is seasonally weak in the first month of the year and the challenges faced by the sector through this year, ranging from the rise in the price of construction materials to the rising interest rates and regional turmoil prompted by the war in Ukraine are multiple.

While the residential sector was the engine of growth for the past years, this may change as households face budget constraints. Hopefully, the Government with the PNRR-financed infrastructure works should take over as the main growth driver.

By type of work, the volume of maintenance and repair works surged by  19.6% YoY in January, the volume of capital repair works advanced by  11.6% and the volume of new construction works by 11.0% YoY.

By type of project, the activity in the residential buildings sector remains the most dynamic with a 37.7% YoY advance in the first month of the year, followed by that of the non-residential building sector (+25.7% YoY).

The volume of civil engineering construction works decreased by 6%.

(Photo: Bogdan Hoda/ Dreamstime)

iulian@romania-insider.com

Normal

RO construction activity rises in January ahead of difficult year

The volume of construction works in Romania increased in January 2022, as a gross series, by 12.9% compared to January 2021 (YoY), the statistics office INS announced.

The construction activity is seasonally weak in the first month of the year and the challenges faced by the sector through this year, ranging from the rise in the price of construction materials to the rising interest rates and regional turmoil prompted by the war in Ukraine are multiple.

While the residential sector was the engine of growth for the past years, this may change as households face budget constraints. Hopefully, the Government with the PNRR-financed infrastructure works should take over as the main growth driver.

By type of work, the volume of maintenance and repair works surged by  19.6% YoY in January, the volume of capital repair works advanced by  11.6% and the volume of new construction works by 11.0% YoY.

By type of project, the activity in the residential buildings sector remains the most dynamic with a 37.7% YoY advance in the first month of the year, followed by that of the non-residential building sector (+25.7% YoY).

The volume of civil engineering construction works decreased by 6%.

(Photo: Bogdan Hoda/ Dreamstime)

iulian@romania-insider.com

Normal
 

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