Page 118 - SE Outlook Regions 2024

5.9.4 Major Sectors & Companies
Romania’s construction works index accelerated to an annual growth rate of 13.8% in Q3, from 11.0% y/y in Q2, driven by the public works segment (+32% y/y) and certain improvements in the area of non-residential buildings (+4.9% y/y).
The fiscal constraints will probably dent the overall construction industry performance in Q4, although the multiannual EU budget and the Resilience Facility should keep some worksites busy despite the government’s financial constraints.
The residential building area posted a double-digit contraction (-11.2% y/y) for the second consecutive quarter, and is still bleeding.
The seasonally adjusted construction works index increased impressively by 5.7% y/y in Q3.
Interestingly, the growth in both annual and quarterly terms was driven by new construction works, according to the breakdown on the type of works (not the specific destination of the project): +18.7% y/y and +9.1% q.q in Q3.
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