The volume of construction works increased by 10.2% y/y in April, losing momentum from +12.6% y/y in Q1, according to the statistics office INS.

In seasonally adjusted terms, constructors’ activity shrank by 4.2% compared to March.

The only segment that keeps posting robust growth rates is civil engineering: +39.1% y/y and +3.0% m/m as of April.

In contrast, the residential construction works segment posted the worst performance in April, although the Q1 figures were still bright. After the +6.5% y/y advance in the first three months of the year, the volume of works on residential projects contracted by 9.2% y/y plunging by 13.8% m/m in seasonally adjusted terms compared to March as well.

Over the year, the residential segment has moderated amid rising interest rates environment.

The non-residential buildings segment also saw a setback in April: -6.2% y/y (after moderate growth of +1.6% y/y in Q1) and -7.2% m/m.

iulian@romania-insider.com

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