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2020/05/28 / Erste Group Research

Romania Monthly Focus: Economy emerging from abyss

According to our ultra-high frequency index, economic activity stood at 76% of an average pre-crisis month in March, at 37% in April, before rising towards 42% in May. February 2020 is considered a pre-crisis normal month due to time series constraints. The economy is gradually restarting, as some businesses have already reopened with distancing restrictions in place. It is still too early to call it a sustainable comeback, but the bottom seems behind us. You can find more details about our index in the attached report.

Economic growth surprised to upside in 1Q20

Manufacturing recovery from May onwards

Food hoarding kept retail sales above water in March

Lower inflation creates room for monetary easing
NBR stabilized ROMGBs yields

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General information

AuthorErste Group Research
Product nameCEE Country Update
Topic in focusMacro/ Fixed income
Economy in focusRomania
Currency in focusRomanian Leu
Sector in focus-


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