construction market

Serbia’s Construction Orders Surge as Infrastructure Activity Weakens

Serbia’s construction sector entered 2026 with a significant split between building projects and civil-engineering works. The nominal value of construction works performed by Serbian contractors increased 0.5% in the first quarter, but real activity declined 6.2% after adjusting for price changes. The results indicate that the market is not experiencing a broad contraction, but rather a shift in the composition of construction activity, with building projects expanding while infrastructure-related works remain under pressure. Building Projects Offset Civil Engineering Decline Real…