Russia’s unemployment stays at record 2.4% low in 2M25
13 hours ago
The construction volume index in Romania increased by 10% y/y in the second quarter of the year, in contrast to the broad economic slowdown, the statistics office INS announced.
But even this sector, which owes its resilience to its insulation from the shrinking foreign trade flows and broken production chains, shows signs of fatigue.
The annual growth rate decelerated from 34% y/y in Q1. Furthermore, the short-term series reveals a visible deceleration during Q2 from 11.4% y/y in April to 8.1% y/y in June. The seasonally-adjusted figures reveal that the construction works volume contracted by 4.8% m/m in June and 4.2% m/m in April.
The segments that prompted the entire sector's slowdown in recent months are visibly the retail and office segments, and this is seen in the figures released by INS: the construction of no-residential buildings contracted by 11.1% y/y in April and by 6.7% in May to recover in June (+11.1%). The logistics segment most likely provided the impetus and will be the non-residential segment’s driving force.
Overall, in Q2, the volume of works in the non-residential segment contracted by 2.8% y/y and this made it the sole segment to put in a negative annual performance.
Residential construction works were up 15.4% y/y and civil engineering works were up 16.9%.
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