Romania's construction works' contraction propped by public contracts in Q3
<p>&nbsp;The construction works volume in Romania edged up by another 2.2% q/q in seasonally adjusted terms after the 13.5% q/q advance in Q2, recovering part of the steep 21% q/q contraction in Q1, according to data published by the statistics office INS.</p>

<p>However, constructors' activity in Q3 &nbsp;still lagged 2.2% y/y behind the volume (in comparable terms) seen in the same quarter of last year. This sector's weak performance must have contributed to the disappointing 1.1% y/y GDP growth estimated under the flash report by the statistics office.</p>

<p>The residential and non-residential building segments of the markets keep losing ground. The residential segment plunged the most, by 26% y/y and 19.6% q/q in Q3.&nbsp;</p>

<p>The non-residential buildings segment posted a more moderate decline, propped possibly by the logistics and industrial sub-segment: it dropped by 7.5% y/y and 7.3% q/q in Q3.</p>

<p>The volume of construction works under civil engineering projects, mostly contracted by the state in the infrastructure sector, increased by 9.5% y/y and 4.8% q/q and contributed to propping the decline of the overall construction market.&nbsp;</p>

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

<p><em>(Photo source: Dreamstime.com)</em></p>