Romania’s construction works down 2.5% y/y in July
<p>The volume of construction works in Romania contracted by 2.5% y/y in July, after the sector posted a marginal 0.2% y/y advance in Q2, according to data published by the statistics office INS.</p>

<p>In seasonally-adjusted terms, the sector posted a moderate 1.0% y/y advance, which was rather a statistical effect of the workday adjustment since each of the three segments of the market contracted marginally.</p>

<p>In the entire H1, the construction work volume was 2.8% smaller compared to the same period in 2023.</p>

<p>The decline was driven in July by the residential segment (-23.5% y/y), which had performed particularly poorly over the past year and declined by 22.0% y/y in H1 as well.</p>

<p>The non-residential segment posted a moderate negative performance (-1.% y/y) in line with the 2.4% y/y contraction seen in H1.</p>

<p>The volume of civil engineering works remained robust (+5.2% y/y) as it was in H1 as well (+7.4% y/y), but it couldn’t alone offset the gloomy performance in both other segments of the market.</p>

<p>The volume of construction works in new projects, an indicator of further performance of the sector, remained in the negative area (-1.2% y/y) in July after the -2.4% y/y decline in H1.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">Yury Sevryuk/Dreamstime.com</a>)</em></p>