Romania’s constructors take a breath in May after record performance in April
The construction activity in Romania lost momentum in May after it reached an all-time record in April, according to data released by the statistics office INS.
Thus, the construction works index, seasonally and workday adjusted, dropped by 5.8% in May, reversing most of the 6.2% advance in April.
Nevertheless, the sector keeps operating close to the highest rates ever recorded, and the robust outlook remains intact. In annual terms, the construction work volume reported in May was 6.0% higher.
For the first five months of the year, the average growth rate was 5.5%, and it was not a base effect: last year, in the same five-month period, the construction works index was 22% up YoY.
The performance was not even among the sectors, though. The residential buildings segment soared by nearly 24%, driving the entire market upside. The non-residential buildings segment contracted by 0.4%, and the civil engineering works (infrastructure) rose by 0.3%.
(Photo: Bogdan Hoda/ Dreamstime)