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.
Romania’s Banca Transilvania (BT) has become a shareholder of Victoriabank, the third largest bank in the Republic of Moldova, with a total participation of over 66% alongside the European Bank for ... more
Romania’s government on January 12 signed a €900mn contract to buy 227 Piranha 8x8 armoured fighting vehicles (AFVs) from US producer General Dynamic, partly assembled at Uzina Mecanica Bucuresti ... more
The Romanian government is committed to taking over a 51% stake in Mangalia shipyards from Daewoo and revive the yard by producing military ships, Prime Minister Mihai Tudose said on January 10 in an ... more