Volume of services to households in Romania shrinks by 10% in February-July

The volume of services delivered to Romanian households (seasonally adjusted) has decreased steadily by a total of 10% over the past five months to July, according to the statistics office INS.

The decline was 6%-7% for the sectors of HORECA and tour operators, while the turnover of the gambling and betting companies contracted by over 10% during the five-month period.

On an annual basis (unadjusted data), the overall volume of services to households edged up to a mere 0.1% y/y, well below the +9.2% y/y advance for the YTD (January-July) period.

HORECA’s turnover index advanced by 1.5% y/y in July, compared to +11.7% y/y in January-July.

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