Romanian construction industry down by a meagre 0.2% y-o-y in 2012

In 2012 the construction industry managed to remain basically flat in real terms (just 0.2% decline). During the first half of 2012, the Romanian construction industry showed great promise, with recovery fuelled by the unusually warm winter, some encouraging corporate results from Q4 2011 and Q1 2012, and the improving business sentiment among developers.
However, the market moved into the red in the second half of the year, being significantly distressed by renewed concerns over the debt crisis in Europe. Another factor which dragged the market down in 2012 was the country’s political upheavals, which saw a referendum to suspend the president, three different Prime Ministers, and parliamentary elections held at the end of the year.

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