Eastern Europe has received an overall score of 0.56 on GlobalData’s February 2022 Construction Project Momentum Index, which provides an assessment of the health of the construction project pipeline at all stages of development from announcement through to completion.
Every construction project in GlobalData's database is assigned a score of between 5 and -5 based on its current progress, a score which is continually updated over time. These are then weighted by the value of each project in order to come to overall scores for countries, regions and sectors.
That score puts Eastern Europe in 7th place out of 11 regions, and is a descrease on its score from January 2022 (0.57) when it ranked in 8th place.
One reason for Eastern Europe's relatively poor performance in the index is its energy & utilities sector, which scores just 0.24, putting it at 7th place out of 11 regions worldwide.
Eastern Europe's institutional sector, by contrast, has performed somewhat better, with a score of 1.09061696658098 (putting it in 2nd place globally).
Within Eastern Europe, the problems in the construction sector are most significant in Ukraine, which scores just 0.01 in the index. The situation in Greece, however, is somewhat better with a score of 1.36.
The Construction Project Momentum Index
GlobalData's Construction Project Momentum Index is based on analysis of thousands of individual construction projects around the world.
Each project is continually monitored for updates, with updates indicating progress increasing the project's score while updates indicating delays or cancellations reduce the score. The score always sits between 5, the best possible score, and -5, the worst.
The scores for individual projects are then weighted based on their significance in order to create combined indices for each region or sector.
Events that can reduce a project's score include the project being cancelled or put on hold, delays, the rejection of applications or tender bids or the reducing of the project's scope.
Events that can increase a project's score on the index, by contrast, include the completion or commencement of construction, the awarding of major contracts, or the approval of applications.