Euro area: Underlying inflationary pressures still very elevated in December 2022
Inflation dynamics in the Euro area came in below expectations in December, but this was mainly the result of decrease in energy prices. Otherwise, underlying inflationary pressures in the Euro…
Strong real convergence of Romania with EU, but no real converge inside the country
In 2000, Romania was the poorest country in the EU. In 2022, there are 5 EU member countries having a GDP per capita in purchasing power standards lower than Romania….
Romania: growth of housing loans stalled in October
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…
Romania: natural gas consumption fell sharply, below level of domestic production
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…
Romania: households’ saving rate still elevated in Q1 2022
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…
Eurozone: grim picture for automotive industry
Prolongation of pandemic and disruptions in global supply chains (including the crisis of semiconductors) had a very strong negative impact on the activity of automotive industry (manufacturing of passenger cars…
Major economies: real GDP remains below pre-pandemic trajectories
Pattern of post-pandemic economic recovery has been very different in US, China, and Germany. Post-pandemic performance of German economy was very week, being substantially hampered by successive pandemic waves and…
CEE: larger and larger current account deficits
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…
Euro area: consumer prices are above implied pre-pandemic trajectory
Level of consumer prices in Euro area is above that would have materialized if the pre-pandemic growth rate from 2017-2019 would have been preserved during pandemic period (January 2020 –…
Romania: Tourism activity this summer remained much below pre-pandemic level
While improving substantially in the summer months (July and August), tourism related activities remained much below their pre-pandemic levels from December 2019.
Nicolae Covrig
Telling pasionate stories about economy
Never stop dreaming. Never stop learning. Never stop giving.
