Romania: Industrial production plummets in September
Industrial output tumbled to 3.3% in annual terms in September, contrasting the prior month’s 0.2% increase and logging the worst print in over a year. The downturn was largely attributed to a slide in mining and quarrying production. Moreover, manufacturing output declined at a sharper rate in September.
On a monthly basis, factory output contracted 2.0% in seasonally-adjusted terms in September, following August’s 0.4% decrease. Meanwhile, the trend remained unchanged, with the annual average variation of industrial production coming in at August’s 8.4% in September.
FocusEconomics Consensus Forecast panelists expect industrial output to expand 4.7% in 2022, which is down 0.3 percentage points from last month’s estimate. The panel expects industrial output to increase 3.9% in 2023.