Construction industry growth in Russia halved to 2.4% in 2012

In 2012, the Russian construction industry expanded by 2.4%, after two consecutive years of at least 5% growth. This was only the third year in the century that GDP growth rate topped that of the construction sector, the previous two years being 2002 and 2009.
The on-going uncertainty over Europe’s debt troubles, the still challenging fundraising environment and a more balanced budget run by Russia, with spending on state-supported infrastructure development programmes kept almost in line with the amounts allocated in 2011, cooled down the construction activity in Russia last year.

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