Labour productivity decreased by 1.9 percent in Q1

Labour productivity in industry down by 1.9 percent in Q1

Newsroom 25/07/2016 | 13:00

Labour productivity in the Romanian industry decreased in the first quarter of 2016 by 1.9percent, year-on-year, and by 3.8 percent compared to the previous quarter, data published by the National Prognosis Commission (CNP) showed.

In Q1 2016 the real unit labour cost in the industry grew by 1.9 percent compared to the previous quarter and by 13 percent year-on-year, CNP informs.

As regards industrial production costs, Q1 2016 saw a -1.44 decrease compared to the previous quarter, with the domestic component falling by -1.54 percent, while producer prices on the domestic market fell by just 1.23 percent.

According to CNP, the level of March 2016 to December 2015, industrial producer prices fell by 1.42 percent.

The National Prognosis Commission prepares forecasts on the social development of Romania in the short, medium and long term in coordination with the governance program, the national strategies and sectorial trends based on the national and global economy. In addition, it coordinates or participates in the creation of strategies and national development programs on the medium or long term. Another task of the CNP is to evaluate the effects of the main economic measures on the economic growth while taking into account the objectives of the national and regional developments programs.