Romania: Decline in industrial activity softens in March
Latest reading: Industrial output decreased 0.5% in seasonally and calendar-adjusted month-on-month terms in March, which was a less pronounced drop than February’s 2.3% decrease. The softer contraction was primarily due to improvements in manufacturing plus mining and quarrying output. That said, energy output contracted.
On a seasonally and calendar-adjusted annual basis, industrial production plummeted to 7.7% in March (February: -3.4% yoy), the worst result since June 2020. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 2.3%, down from February’s minus 1.3% reading.