Romania’s construction works down 0.6% in Jan-Feb
The volume of construction works in Romania increased by 3.3% in February compared to the same month of 2020, the National Statistics Institute (INS) announced.
Still, this performance couldn't fully offset the poor evolution in January. The overall volume of works in January-February was 0.6% lower than in the same period last year.
The cloudy picture has a silver lining, though: the civil engineering works (+11.2% year-on-year) and the new construction works (+2% yoy).
By market segment, the works on residential buildings segment contracted by 5.6% yoy and those in the non-residential buildings segment by 12.8% yoy in January-February.
Overall, the construction market has not started the new season on a higher level - as it happened in 2020 (creating a high base effect). But the outlook remains robust for some market segments, particularly the residential segment (in and around first-tier cities) and the logistic and industrial segment.