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Romania: signs of manufacturing recovery in May

But still down year-on-year

14 July, 11:46
(ANSA) - BELGRADO, 14 LUG - The industrial production in Romania began to recover in May, increasing by +15.1% month-on-month, according to official data quoted by analysts at Erste Group Research. In annual terms, however, production in industry in Romania fell by -28% on a yearly basis in May, after the -38.7% registered in April, Erste said.

"Local industry was already negative for one year when the corona crisis struck, so full recovery will take time. External demand plays a key role on short term. On a medium to long-term perspective, local manufacturing will continue to struggle with eroded cost competitiveness and issues related to skills mismatches in the labor market and road infrastructure network," Erste Group Research noted. (ANSA).

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