Labor productivity in Romania’s industry advances 9.3% in first seven months y/y, statistics show
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Labor productivity in Romania’s industry added an annual 9.3 percent in the first seven months underpinned by advance in the processing industry, according to the country’s statistics body INS.
The growth pace remained similar to that in the first six months. However, the growth in labor productivity slowed down over the previous year when it accelerated 9.9 percent over 2006.
Work productivity in the processing industry nudged up 10.1 percent in the first seven months while in electricity, thermal power, gas and water industry it increased at 9.5 percent.
However, the growth pace in labor productivity in industry remained below the 25.8 percent advance of the average salary from July 2007 to the seventh month this year.
The country’s central lender has numerous times warned over the risk of such a gap between the two indicators, fearing that the advance of salaries above work productivity spurs imbalances and puts pressure on inflation.
NewsIn
The growth pace remained similar to that in the first six months. However, the growth in labor productivity slowed down over the previous year when it accelerated 9.9 percent over 2006.
Work productivity in the processing industry nudged up 10.1 percent in the first seven months while in electricity, thermal power, gas and water industry it increased at 9.5 percent.
However, the growth pace in labor productivity in industry remained below the 25.8 percent advance of the average salary from July 2007 to the seventh month this year.
The country’s central lender has numerous times warned over the risk of such a gap between the two indicators, fearing that the advance of salaries above work productivity spurs imbalances and puts pressure on inflation.
NewsIn
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