Romania Outperforms European Average in Services Sector as June Output Rises

Romania moved against the European trend in June, with services output rising 1.2% from May even as production declined across the European Union and the euro zone. Eurostat data showed a 0.2% monthly fall in the EU and a 0.3% decrease in the euro zone.

The Romanian increase followed a 0.7% decline in May. Only Luxembourg, where services output jumped 7.8%, Portugal at 3.1%, Lithuania at 2.6% and Greece at 2.4% posted larger gains. The Netherlands recorded a 1.5% rise, Slovenia 1.4%, while Estonia matched Romania’s 1.2% increase.

The weakest monthly results came from Latvia, down 3.7%, Germany, down 2.1%, and Bulgaria, down 1.1%. Performance varied by sector. Accommodation and food services rose 0.1%, while information and communication advanced 0.7%.

Real estate activities fell 0.8%, professional, scientific and technical activities declined 0.7%, and administrative and support services dropped 0.4%. Transport and storage output remained unchanged.

The annual comparison was more favorable across Europe. Services output in June stood 1.5% above the level recorded a year earlier in both the EU and the euro zone. Greece led the annual increases at 9.3%, followed by Slovenia at 8.5%, while Estonia and Lithuania each rose 7.1%. Denmark recorded the largest annual decline, at 6.5%. Germany fell 0.6%, Italy 0.5% and Austria 0.1%, while Romania’s services output increased 1.2%.