Public investments fuel construction industry’s growth in Romania
The volume of construction works in Romania increased by 15.8% y/y in July, the statistics office INS announced. The annual growth rate remained above 15% y/y for the fourth consecutive month.
In July, the growth was fueled by civil engineering (infrastructure) works, which surged by 37.6% y/y in the month and maintained an annual growth rate of over 35% y/y for the fourth consecutive month.
The construction of non-residential buildings is also growing, by 7.7% y/y in July and 12% y/y in the rolling 12-month period ending July. But this sector’s growth is more volatile because it includes segments with different trends (office, retail and logistics).
As regards the residential buildings segment, it posted negative growth in July (-14.3% y/y) and in the rolling 12-month period (-3% y/y), but on a longer-term perspective, it stagnated after record growth rates in 2020-2021.
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