Romania: Industrial output grows at softer pace in June
Industrial output grew 12.5% in year-on-year terms in June, moderating from May’s 30.5% jump. The print was driven by growth in the electricity, gas, steam and air conditions supply, manufacturing, and manufacturing and quarrying.
On a monthly basis, factory output swung to a 0.3% expansion on a seasonally-adjusted basis in June from an 8.4% decline in May. Meanwhile, the trend improved markedly, with the annual average variation of industrial production coming in at 6.7% in June, up from May’s 4.4%.
FocusEconomics Consensus Forecast panelists expect industrial output to expand 9.3% in 2021, which is up 0.5 percentage points from last month’s estimate. The panel expects industrial output to increase 5.5% in 2022.