Page 13 - Economic Outlook Romania 2019
P. 13
Supply side: industry driven by exports,
residential take a nose dive on higher rates
Ifo edging lower, Romania Public investments near all Cyclical or structural
manufacturing follows time low, at 2.5% of GDP slowdown?
14.0 75 30
105 65 %YoY, 12m rolling
12.0 55 25 average
10.0 45 (%YoY, 12m rolling average) 20
102 15
8.0 35 10
25
99 6.0 15 5
4.0 5 0
-5
96 2.0 -15 -5
0.0 -25 -10
93 -2.0 -35
Total Transport
Construction Residential
Ifo Pan Germany Business Climate Telecom IT
Manufacturing (3-mav, YoY, %, rhs) Commercial Civil Engineering Engineering
Ifo not doing well recently... Cooling residential market... IT has reached its limits…
German economy starting to ... on higher interest rates. ... as qualified labour force is
lose momentum on trade war, Public investments picking up limited. Transportation
Brexit and emission norms. It a bit but with a low multiplier hinting at cyclical slowdown.
could take until 2Q19 before a effect. Engineering pointing to
rebound takes place. investment pullback.
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