Romania’s industrial production plunged by 6.6% y/y in June, dragging down the quarter’s performance to negative 1.7% y/y as the production of traditionally robust industrial sectors disappointed.
GDP growth figures from the second quarter of this year were down on the first quarter but showed that growth was still being supported in Central and Eastern Europe by domestic demand that has gone some way to offsetting an EU slowdown.
The figures confirm the improvement in the industrial and construction sectors in Q2, compared to their more sluggish performances in Q1, when growth was driven by private consumption.
At 4.1% y/y, Romania's July inflation will probably be the highest print for the year, ING analysts write.
Serbia became the latest country to see its pigs fall victim to African swine fever (ASF) on August 12, when the Paris-based World Organisation for Animal Health (OIE) announced four outbreaks in the Balkan country.
Import growth slows despite continuing strong rise in household incomes.
The emerging markets (EM) bond markets are well into their summer slowdown. There were virtually no bond issues from Russia at all in July but Central Europe saw $6.4bn of issues
The ruling PSD and its junior partner ALDE are fielding rival candidates and things are already getting acrimonious.
Adoption of personalisation and digitisation technologies to lead to aggressive competition and a wave of investment in innovation.
Health Minister Sorina Pintea claims national health insurance house CNAS has "blocked the system" with excessive bureaucracy, and called for anti-corruption prosecutors to investigate.
Eurostat says Romania's budget deficit in the first half of this year was the highest across the EU, but the Romanian government says the figure will be lower for the full year.