by Nicolae Covrig
Lending for housing purposes has clearly lost speed starting the summer. Advance of outstanding housing loans decelerated visibly in July-September and stalled in October. Assessment is based on my own…
In Romania, consumption of natural gas fell sharply during 2022. Natural gas consumption in Q3 2022 was 30% below its level from Q3 2021 according to preliminary data reported by…
Households’ saving rate*** has been on a downward trend over the last quarters, reaching a level of 19.5% in Q1 2022. This level was only marginally below those recorded in…
Disruptions in global value added chains and increasing commodity prices have lowered foreign trade surpluses in CEE countries (PL, HU, and CZ) over the past year, resulting in current account…
While improving substantially in the summer months (July and August), tourism related activities remained much below their pre-pandemic levels from December 2019.
Romania’s manufacturing sector has systematically underperformed it regional peers since the beginning of pandemic. Following a collapse in May, manufacturing output in Romania failed to recover in the subsequent three…
Besides reducing the interest rates, central banks in the Central and Southeastern Europe stepped in to fight the adverse effects of pandemic (1) by purchasing government securities and (2) by…
Supply chains disruptions (semiconductor chips crisis) had a strong negative impact on activity of automotive industry in Europe. As compared with October 2020, production has fallen by 20% in Germany…
Romania’s manufacturing sector clearly underperformed its regional peers during the pandemics as (1) gross value added (GVA) contraction during the lockdown was more severe, and (2) recovery proceeded at a…
Following the strong advance of 2.8% in Q1 2021 from Q4 2020, Romania’s real GDP has already reached the pre-pandemic level from Q4 2019.
Never stop dreaming. Never stop learning. Never stop giving.
