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.
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