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Romania Industrial production January 2024

Romania: Industrial output contracts at sharpest rate since April 2023 in January

Industrial output slid 3.9% compared to the same month of the previous year in January, which contrasted December’s 0.9% increase. January’s result marked the worst reading since April 2023. January’s reading was partly driven by a deterioration in manufacturing production. Meanwhile, mining and quarrying production dropped at a more moderate rate.

On a monthly basis, factory output fell 3.4% in seasonally adjusted terms in January, which was well below December’s 1.6% expansion and marked the worst result since September 2021. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 2.4%, up from December’s minus 2.5% reading.

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