Construction industry in Romania expected to stabilise in 2011

Prior to the start of the crisis, the Romanian construction industry was one of the most vibrant in the European Union, but this changed dramatically in 2009, when construction output fell by 15%, with a similar reduction following in 2010. The current year should finally lead to a measure of stabilisation on the market, but growth is not likely to return before 2012.
Romania was the region’s best performer in construction a few years ago, with output increasing by 20-30% year on year. In both 2009 and 2010, however, 15% reductions were witnessed, mainly because of the outflow of foreign capital and the lack of funding for on-going construction projects and new developments. The steepest reduction last year, of more than one-third in comparison with the preceding year, was seen in residential construction, whereas there was a 3% reduction in civil engineering.

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