Public works push up construction activity in Romania

Public works push up construction activity in Romania

/ bne IntelliNews

By bne IntelliNews April 20, 2023

The volume of construction works in Romania increased by 10.4% y/y in February, gaining momentum from the 7.0% y/y advance in the first month of the year, the statistics office INS announced.

Government-backed public works (civil engineering) recovered from relatively modest levels seen last year while the residential segment was dragged down by the high interest rates and households’ more cautious sentiment after years of robust growth.

The combined annual growth rate for the first two months of the year was 9% y/y.

By type of project, civil engineering works was the main driver behind the growth as the volume of work involved in such projects surged by 25% y/y in February and by 15.8% y/y in January.

The volume of work dedicated to non-residential buildings posted more modest, but positive, growth rates of 2.5% y/y in February and 5.2% y/y in January.

As expected, residential buildings lagged behind with negative annual growth rates (-0.3% y/y in February and -2.5% y/y in January).

#romania #bneChart #construction

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

Romanian presidential candidate Georgescu claims Ukraine is an “invented state”

Romania’s public debt reaches 54.3% of GDP at end-November

Lack of megadeals drags down M&A volume in Emerging Europe

Romanian presidential candidate Georgescu claims Ukraine is an “invented state”

Romania’s public debt reaches 54.3% of GDP at end-November

Lack of megadeals drags down M&A volume in Emerging Europe

Data

India’s digital economy to surpass agriculture and manufacturing sectors

India’s digital economy is projected to account for nearly 20% of the country’s GDP by fiscal year 2029-30, overtaking agriculture and manufacturing within six years.

Gold prices in Pakistan hit record high

Gold prices in Pakistan have reached a new all-time high following a $15 increase in the international bullion market, which pushed the price to $2,778 per ounce

Hungary’s economy emerges from recession in Q4 but 2024 growth disappoints

After two consecutive quarters of decline, Hungary’s economy bounced back from recession in Q4, posting 0.5% q/q growth, beating analyst consensus by 0.3pp.

Romania’s public debt reaches 54.3% of GDP at end-November

Romania’s public debt rose by €30.8bn in January-November 2024, well above the €25.9bn leap during the pandemic year.

China enhances position as Central Asia’s economic overlord

Trade balance heavily favours Beijing.

India’s digital economy to surpass agriculture and manufacturing sectors

Gold prices in Pakistan hit record high

Hungary’s economy emerges from recession in Q4 but 2024 growth disappoints

Romania’s public debt reaches 54.3% of GDP at end-November

China enhances position as Central Asia’s economic overlord

Dismiss

Chat with usLiveChat