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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romanian constructors reduce activity by 7.5% YoY in Q3

The seasonally and workday adjusted output index in the constructions sector has constantly decreased since April, marking a significant 7.5% annual decrease in the third quarter of the year, according to data released by the statistics office INS.

The trend was visible in all three market segments over the past five months: residential, non-residential, and civil engineering. However, the residential buildings sector retains a substantial 29% YoY annual advance, while the non-residential buildings (-22% YoY) and civil engineering (-13% YoY) posted negative yearly performances.

In response to the unexpected negative developments in the sector of construction, the state strategy and forecasting body CNSP revised downward abruptly its forecast for the value-added generated by the sector this year to a dismal 0.2%, from 6.1% envisaged in August. Part of the revision may be attributed to the rise in the price of construction materials (and energy).

The sector is expected to recover in 2022 when the value-added generated by constructors would surge by 9%, driven by the much-expected projects financed under the Recovery and Resilience Program. 

iulian@romania-insider.com

(Photo source: Pixabay.com)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romanian constructors reduce activity by 7.5% YoY in Q3

The seasonally and workday adjusted output index in the constructions sector has constantly decreased since April, marking a significant 7.5% annual decrease in the third quarter of the year, according to data released by the statistics office INS.

The trend was visible in all three market segments over the past five months: residential, non-residential, and civil engineering. However, the residential buildings sector retains a substantial 29% YoY annual advance, while the non-residential buildings (-22% YoY) and civil engineering (-13% YoY) posted negative yearly performances.

In response to the unexpected negative developments in the sector of construction, the state strategy and forecasting body CNSP revised downward abruptly its forecast for the value-added generated by the sector this year to a dismal 0.2%, from 6.1% envisaged in August. Part of the revision may be attributed to the rise in the price of construction materials (and energy).

The sector is expected to recover in 2022 when the value-added generated by constructors would surge by 9%, driven by the much-expected projects financed under the Recovery and Resilience Program. 

iulian@romania-insider.com

(Photo source: Pixabay.com)

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