Construction output in Bulgaria has started 2024 with growth, according to data from the National Statistical Institute (NSI). It is due to a rise in civil and engineering construction, which the NSI for the first time divides into two indicators - construction of facilities and specialised construction, while the construction of buildings declined.
Since the beginning of this year, the national statistics have been providing the data as required by two EU regulations on European business statistics. The data for 2023 have been reconsolidated.
According to the adopted methodology, in January the output of the construction sector in the country grew by 0.7% y-o-y after zero growth in December, preceded by eight consecutive months of decline.
Most notable was the 3.9 per cent annual growth in construction of structures, accelerating from a 2.4 per cent rise in December. These are the first signs of a tentative recovery in the segment after reported declines of nearly 15 percent in January and February; in the remaining months through November, they ranged from near and just over 10 percent to just over 11 percent.
Year-on-year growth in January was also recorded in specialised construction activities, up 1.2 per cent after three consecutive months of decline. But this segment of construction has performed better over the past year with moderate gains from January to September.
At the opposite pole was building construction, which was down 1.5% year-on-year in January. According to the methodology adopted by the NSI from the beginning of this year, building construction has been achieving year-on-year growth throughout 2023, and it has started to slow down since October.
Construction output has also risen by 1 per cent on a monthly basis, according to the NSI's preliminary and seasonally adjusted data, again driven by a 0.8 per cent increase in construction of structures and a 3.4 per cent increase in specialised construction activities. At the same time, building construction registered a decline of 0.7%.
