The volume of structural painting in the year to November 2023 was up 12. 8% year-on-year from last year, according to data released by the INS statistics office.
The annual growth rate was 12.9% y/y in 2022 and most likely remained around the same level in 2023. The government expects the sector to marginally lose momentum this year (2024) to a 7.1% growth rate but return to an annual rate above 9% in 2025-2026 when the infrastructure projects financed under the Resilience Facility must be completed.
The seasonally adjusted index has increased over the past two years, but market segments have shown very different dynamics. The most dynamic segment in 2023 was civil engineering works (-30% in the 12 months to November), after the non-residential buildings segment. (-22% year-on-year) in 2022.
The residential buildings segment contracted by 7% y/y in the 12 months to November 2023.
The segment of non-residential buildings (office, industrial, retail) edged up a modest 2% y/y in the 12 months as a result of opposite developments in its sub-segments. The industrial and logistics sub-segment is visibly the sole one that thrives, while the office sub-segment keeps bleeding after the work-from-home during the COVID crisis set new expectations for employees.
iulian@romania-insider. com
(Photo source: Dreamstime.com)
The volume of structural painting in the year to November 2023 was up 12. 8% year-on-year from last year, according to data released by the INS statistics office.
The annual expansion rate was 12. 9% year-on-year in 2022 and the maximum likely remained at roughly the same point in 2023. The government expects the sector to lose momentum this year (2024) at an expansion rate of 7. 1%, but it is forging ahead. return to a higher annual rate, 9% in 2025-2026, when infrastructure projects financed under the Resilience Fund are due to be completed.
The seasonally adjusted index has increased over the past two years, but market segments have shown very different dynamics. The most dynamic segment in 2023 was civil engineering works (-30% in the 12 months to November), after the non-residential buildings segment. (-22% year-on-year) in 2022.
The residential buildings segment grew 7% year-on-year in the 12 months to November 2023.
The Non-Residential Buildings (Workplace, Commercial, Retail) segment increased slightly to 2% year-over-year due to opposite developments in its sub-segments. The commercial and logistics sub-segment is notably the only one thriving, while the workplace sub-segment continues to bleed after the COVID crisis created new expectations for employees.
iulian@romania-insider. com
(Photo source: Dreamstime. com)
The volume of structural painting in the year to November 2023 increased 12. 8% year-on-year compared to last year, according to data published by the INS statistics office.
The annual expansion rate was 12. 9% year-on-year in 2022 and the maximum likely remained at roughly the same point in 2023. The government expects the sector to lose momentum this year (2024) at an expansion rate of 7. 1%, but will continue to return to a higher annual rate, 9% in 2025-2026, when infrastructure projects financed under the Resilience Fund are due to be completed.
The seasonally adjusted index has increased over the past two years, but market segments have shown very different dynamics. The most dynamic segment in 2023 was civil engineering works (-30% in the 12 months to November), after the non-residential buildings segment. (-22% year-on-year) in 2022.
The residential buildings segment contracted by 7% y/y in the 12 months to November 2023.
The Non-Residential Assets (Workplace, Commercial, Retail) segment grew slightly by 2% year-over-year over 12 months due to opposite advances in its sub-segments. The commercial and logistics sub-segment is visibly the only one thriving. While the workplace sub-segment continues to bleed after becoming homeless, the COVID crisis created new expectations for employees.
(Photo source: Dreamstime. com)
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