Romania’s total market production index (TMPI), a composite indicator compiled by Eurostat that combines four short-term business statistics indicators covering most of the market economy, increased by 4.2% y/y in Q3 - the sharpest rise in seven quarters (+0.3% y/y in Q2) and twice the 2.1% average advance in the European Union. 

The seasonally-adjusted index has increased for the fourth consecutive quarter, by 1.0% q/q. Robust construction activity and marginal improvement in the industrial sector contributed.

The total market production index (TMPI) is a composite indicator that combines 4 short-term business statistics indicators covering most of the market economy, i.e., production in industry, construction, and services, as well as the trade volume. The TMPI does not cover agriculture, financial services, and public and quasi-public services.

Romania’s construction volume index boasted 14.1% y/y growth in the quarter, visibly making a strong contribution to TMPI, possibly as a result of the change in regulations, while the manufacturing output index increased by 1.1% y/y on a stagnating pattern over the past year, and the retail sales posted a 2.3% y/y decline amid austerity measures after a prolonged expansion. 

The evolution of the TMPI and quarterly gross domestic product (GDP) is quite similar, although there are also differences that become more pronounced with increasing distance from the base year, according to Eurostat. Apart from the limited coverage of the TMPI, there are several other methodological reasons for the differences.

Romania’s GDP calculated under the previous year prices (PYP) methodology consistent with TMPI, posted 1.6% y/y growth – the strongest annual rate in four quarters. The detailed GDP data indicate that the value added generated by the sector of construction increased by 12.1% y/y, and the sector contributed 0.8 percentage points to the 1.6% y/y advance. 

Agriculture contributed 0.5 pp to the GDP growth, after the value added generated by the sector advanced by 9.2% y/y. The value added generated by industry increased, amid historically subdued levels, by 1.1% y/y in Q3 2025. contributing 0.2 pp to the overall annual GDP growth.

iulian@romania-insider.com

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