Romanian Econ Pessimism Deepens On Faint Consumer Confidence

Romanian economic mood continued its decline for the eleventh consecutive month in August, on falling consumer confidence and scarce activity in constructions, European Commission data showed Friday.

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The economic sentiment indicator in Romania fell to 62.4 in August from 65 the month before. In August last year, the indicator was at 101.3 points.

Consumer confidence in Romania dropped to -46 in August, from -45 the month before. In constructions, expectations remained flat on the month to -42 in August, the EC said.

Romanian industry also remained unchanged to -15 in August, while services fell to -15 from -9 in July.

Retail trade was the only sector to show a slight improvement to -21 in August, from -22 the previous month.

In the European Union, economic sentiment rose for the fifth consecutive month in August, boosted by improved expectations in all sectors. The EU’s economic sentiment indicator showed a monthly increase by 5.9 points to 80.9 in August.

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