Construction output in Bulgaria reported its strongest growth for January since the crisis
Still, the indicator is 43% below its peak
Construction output in Bulgaria registered an increase of 24.2% on an annual basis in January thanks mainly to the increase in building construction, according to data from the National Statistical Institute (NSI).
This is also the strongest rise in the index in January since the 2008 crisis.
However, the construction output index remains 43% below the peak reached in July 2008, according to the calculations of Investor.bg, based on the historical data of the national statistics.
In January, building construction increased by 31.6% on an annual basis. This can be explained by the commissioning of a number of projects started in previous years. We recall that in 2014 there was a peak growth of 29% for the year, which slowed down in 2015 and 2016. However, in 2017 the increase accelerated again to 23.4%.
In January vs. December, output from civil engineering increased by 5.3%, according to NSI data.
In civil and engineering construction, which includes construction of infrastructure - the most dependent European segment of the sector, growth is also becoming more dynamic, reaching 15.5% on an annual basis probably due to some projects already started, albeit small.
For the month, civil and engineering construction output grew by 4.8%.