How the economy moved in August. Real estate transactions have taken off, followed by construction. The big losers are still those in the entertainment and agriculture field – Finance & Banking

Agriculture, health and transport are the economic sectors that contracted the most in August compared to July, with business falling 46% in agriculture, 21% in health and 19% in the case of carriers, according to data from the SmartBill Barometer. According to data from the Barometer, only two sectors posted a surplus in August (compared to July): Administrative service activities and support service activities (including rental and leasing) and Entertainment, cultural and recreational activities.

Compared to August 2019, the big losers continue to be entertainment activities (decrease of 47%) and hoteliers (minus 32%), while real estate transactions increased strongly (64%), along with the construction sector (a modest 6%). It is true that the Casa Nueva program, which boosts the mortgage sector, was officially launched in August, but we cannot blame it on the strong growth of the real estate sector.

Overall, business decreased in August by 13.8% compared to July and 3.76% compared to August 2019.

By regions, the greatest decrease in the monthly rate (August / July) was registered in Southwest Oltenia (29%), West (20%) and Center (15%). In Bucharest, the decrease was 11% per month and 4% in August 2020 / August 2019.

N. Red: The statistics presented are the result of an analysis carried out on a sample of more than 20,000 companies with an active SmartBill subscription and a history from January 2019 until now. The number of companies exceeds any sample used in a survey so far. The SmartBill barometer is the only instrument that measures the pulse of SMEs in Romania in real time (turnover evolution). Below, we can see the impact of the crisis on SMEs, when the economy begins to recover and the speed with which it will do so.