Construction work, decline by over 9.5 percent after 11 months in 2014

Romania’s building industry has slowed its decline in November 2014, the latest report released by the National Institute of Statistics indicating increases both compared to the previous month and to November 2013, albeit overall, construction work dropped by more than 9.5 percent year-on-year in the first eleven months of 2014.

Between January and November 30, last year, the volume of construction work fell both as gross series and as seasonally adjusted series, by 9.5 percent and by 9.9 percent, respectively, as a result of decreases in capital repair works, in maintenance and current repairs works and in new construction works.

The amount of construction work also dropped in the civil engineering field, by 24.4 percent, as gross series and by 25.4 percent, as seasonally adjusted series. Improvements were visible in the housebuilding sector which increased by 35.7 percent (36.4 percent, as adjusted series) and in the non-residential building sector, where the volume of construction work went up by 11.4 percent (10.3 percent, respectively).

In November 2014, the building industry returned to growth, having a strong performance compared to the previous month. Thus, the amount of construction work grew by 13.1 percent (gross series) and by 5.8 percent (seasonally adjusted series), triggered by increases at all levels, except for housebuilding which saw a decline by 6.3 percent (gross series), 13.8 percent (adjusted series), respectively.

As regards the corresponding month in 2013, a progress was recorded only as gross series, the volume of construction work growing by 2.2 percent, whereas there was a 0.5 percent drop, as seasonally adjusted series, shows the same INSSE report.