The use of the ruble in EU trade settlements reaches a record $15.2bn in March
2 days ago
Rising from 49.3 in March to 51.5 in April, Romania’s headline (seasonally adjusted, chart) PMI index compiled by BCR Romania registered its first above-neutral score seen since data collection began last July.
This latest reading based on data collected during April 11-24 signals an improvement in business conditions in the sector. Though only modest, the uptick ended nine months of decline.
“Both new orders and output components came above 50 this month - indicating an improvement after nine consecutive months of decline and were the main growth drivers for the PMI reading,” commented Ciprian Dascalu, chief economist at BCR.
On a less positive note, international sales continued to drop in the month.
“Looking at new export orders the trend remained contractionary due to stagnant foreign demand with some firms mentioning European markets in particular,” according to Dascalu.
Managers were increasingly optimistic that output would rise over the year ahead, with firms expecting market conditions to improve and geopolitical tensions to ease. The positive sentiment was the strongest on record since last July.
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