Romania's construction activity reaches new record despite slower July growth

Romania’s construction activity grew by 2.0% year-on-year in July, slowing sharply from 18.0% in the second quarter and 7.7% in the first quarter, but the sector’s seasonally and workday-adjusted volume reached its second-highest level on record, according to data published by the National Institute of Statistics (INS).

The relatively modest annual increase was largely a base-effect story, as construction activity had already reached its highest adjusted level in July 2025  (largely due to accounting reasons following the VAT rate hike in August 2025). Despite the slowdown in annual growth, the sector has continued to expand through 2026 and was around 60% above its average 2021 level in July on a seasonally and workday-adjusted basis.