Bulgaria's Construction Sector Collapses Anew

Bulgaria's construction sector appears to be experiencing a new collapse, according to government statistical data for March 2011.

In the third month of the year, the Bulgarian construction sector declined by 3.1% compared with February, and by 19.1% year-on-year.

The new drop comes after latest data revised the negative data for January and February; thus, in February on monthly basis Bulgaria's construction sector grew by 2.3%, instead of the 1.1% drop previously reported, while in January it saw a growth of 1.7% instead of 0.8% monthly drop reported initially.

In March 2011, Bulgaria's construction of residential buildings declined by 2.2% compared with February, while the construction of infrastructure saw a 1.9% decline.

In March 2011, the construction infrastructure dropped by 23.8% year-on-year, while the construction of residential buildings – by 14.7%.

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