Industrial and construction output flattens in Romania during August

The most recent survey by Romania's Central Bank (BNR) on output from the industrial and construction sectors reveals mixed perceptions from the country's business community. Industrial output was flat during August, but this, according to BNR, cannot solely be explained by the usual seasonal lull. The respondents of the survey showed reduced optimism and the seasonally adjusted figures pointed to a flattening in industrial output as well. On the construction side, despite output being up, seasonal factors also led the BNR to judge the figures as “entirely seasonally-driven – the adjusted data point to a stalemate in output volume.” Subdued demand is given as an influencing factor by 37 percent of respondents from the industrial sector and 51 percent from construction. On the employment side, respondents from both sectors say that staffing levels will remain at a similar level in August, but their answers suggest that there may be a slight decrease in employees. Figures for investment register a downward trend in both sectors during August, however, seasonally adjusted results for the industry sector are flat, while in construction both adjusted and unadjusted figures show a decline for August. Liam Lever, liam@romania-insider.com