BUCHAREST, June 3 (Xinhua) -- The Romanian manufacturing sector continued its recovery in May, with the BCR Romania Manufacturing PMI reaching 52.0, up from 51.5 in April, marking the highest reading since data collection began in July 2023.
This is the second consecutive month the PMI has remained above the 50-mark, indicating expanding business activity, Ciprian Dascalu, chief economist at Romanian Commercial Bank (BCR), said in a press release on Monday.
He said that the rise in the PMI was driven by strong new orders and increased output.
However, employment growth slowed slightly, and stocks of purchases provided a marginal negative impact on the headline PMI, he added, noting that despite these minor setbacks, the overall trend points to a robust recovery.
Dascalu said that while new domestic orders and client referrals boosted the manufacturing sector, export orders continued to contract, albeit at a slower pace.
Manufacturing accounts for approximately 15 percent to 20 percent of Romania's gross value added.
