Romania’s retail sales index returned to the two-digit annual growth area after climbing by a real 10.1% y/y in May 2014 following a temporary slowdown in April, the statistics office reported. In nominal terms, retail sales were up 10.9% y/y in May.
The quicker increase in the months was partly an effect of earlier celebrating of the Easter-Labour Day holidays this year but still the combined April-May index that filters out such effects indicated a robust 8.5% y/y real increase in industrial sales.
The industrial activity thus returned to high growth rates in May after the Easter-Labour Day holidays caused the temporary slowdown in April. Nonetheless, the high growth rate in the month – likely to be visible in the gross industrial output index to be released on July 10, is still partly an effect of low base. The Easter-Labour Day holiday last year decreased the workdays and the industrial activity in May 2013. The workday-adjusted industrial output will likely show a slower [single-digit] growth rate.
The combined April-May real industrial sales, calculated in order to avoid the shift in the Mayday-Easter holiday, increased by 8.5% y/y. This is a robust annual advance, much lower than the 14.8% y/y in Q1 but still the second highest value in the past couple of years.
The Al Dahra Group of the United Arab Emirates (UAE) wants to purchase nearly 60,000 hectares of agricultural land along the Danube River, develop a logistics company including water and road ... more
Romanian President Klaus Iohannis said on April 16 he is rejecting a request from the justice minister to dismiss the head of the National Anticorruption Directorate (DNA), Laura Codruta Kovesi. ... more
International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more