Romania sees EU’s biggest construction work slowdown

Romania recorded the steepest annual decline in construction work in the European Union in May, namely -16.7%, according to EU’s statistical office Eurostat. Construction work increased by 2.6% in the eurozone in May compared to the same month last year, whereas it recorded an annual advance of 2.5% in the European Union. Only three member states, including Romania, recorded an annual drop in May. Romania recorded a decline of 1.3% in construction work in May compared to April, over a drop of 1.1% recorded at EU level or 0.7% in the eurozone. Slovenia saw the biggest monthly decrease (-10.6%), followed by Sweden (-7.1%) and Slovakia (-4.9%). According to previous data presented by Romania’s National Statistics Institute, the volume of construction work dropped in May by 16.7% as gross series compared to May 2016. Construction firms in Romania have higher debts editor@romania-insider.com