Romania’s industrial turnover down by real 4.1% y/y in May

By bne IntelliNews July 8, 2013

Romania’s industrial turnover decreased by 1.6% y/y in nominal terms and by 4.1% y/y in real [industrial price deflated] terms in May, the statistics office reported.

Earlier in April, the industrial turnover performed an impressive 9.1% real annual advance and the slowdown in May is largely due to the May 1 Labour Day and Easter holidays.

April-May data, however, indicate better performances for the industrial companies compared to the Q1 period. Thus, the industrial output for the month of May [to be released on July 10] might drop in the negative area after the impressive 19% y/y surge in April – while the combined Apr-May performance would remain bright, most likely better than the 4.7% y/y advance in Q1.

For the combined period of Apr-May, the industrial turnover was still up 2.3% y/y – marking a visible improvement from the 0.2% y/y contraction in Q1.

For the core manufacturing alone, the industrial turnover increased by 4.1% y/y in Apr-May, accelerating from 1.1% y/y in Q1 despite the 2.4% y/y contraction in May alone.

Related Articles

Romanian president rejects justice minister’s request to dismiss head of anti-corruption body

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

ArcelorMittal proposes to divest assets in Czech Republic, Macedonia and Romania

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

Romania’s Restart Energy raised €30mn via ICO

Romanian electricity and gas supplier Restart Energy raised €30mn in cryptocurrencies by issuing 400mn MWAT tokens in an Initial Cryptocurrency Issue (OCO) aimed at financing a blockchain-based ... more

Dismiss