The volume of construction works in Romania edged up by a modest 0.6% y\/y in Q2, after it plunged by 7% y\/y in Q1, thus ending a six-quarter rally, according to data published by the statistics office.<\/p>\n
For the combined H1 period, the volume of construction works is still 2.5% lower compared to the same period last year.<\/p>\n
The feeble advance in Q2 was solely due to the civil engineering works (+8.3% y\/y, backed by the government-financed contracts), while the works on residential buildings contracted by 12.5% y\/y and the works on residential buildings by 2.4% y\/y.\u00a0<\/p>\n
In a longer-term perspective, the residential buildings segment has lost significant ground (-8.3% in seasonally-adjusted terms) compared to the base year 2021, while the volume of engineering works surged by 55.3%, and the volume of works on non-residential buildings increased by 25.3% compared to the same base year.<\/p>\n
By type of projects, the volume of works on new construction objects resumed growth in Q2 (+3.0% y\/y), while the volume of capital and current repairs contracted by 5.0% y\/y and 3.5% y\/y, respectively.<\/p>\n