Pakistan stocks tumble nearly 10% in four days amid rising India tensions
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The construction works index in Romania rose by 34.3% y/y in October, driven by civil engineering works (+50% y/y) and the non-residential buildings sector (+42% y/y), the statistics office announced.
The seasonally-adjusted index increased by another 5.5% in the month, resulting in an overall 12% leap over the past three months when the same two sectors outperformed (rising by +18% and 12% respectively) in contrast with the 5.5% contraction seen in the residential buildings segment.
For the third month in a row, construction activity marked a new record for the past decades.
This seems to be the combined effect of rising interest rates and more cautious decisions on the side of the household (residential buildings) segment and, on the other hand, the effect of a sharp expansion of logistics projects and more abundant public spending.
As regards public spending, the figures suggest significant amounts channelled to new constructions and capital repair works as well.
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