Romania: Decline in industrial output softens in July
Industrial output fell 5.2% compared to the same month of the previous year in July, which was a smaller contraction than June’s 5.4% decrease. Looking at the details of the release, manufacturing output contracted at a faster pace in July, and mining and quarrying output also increased at a weaker pace.
On a seasonally adjusted monthly basis, industrial output rebounded, rising 0.6% in July (June: -1.9% mom), the best result since January. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 3.7%, down from June’s minus 3.3% reading.