Romania Industry August 2020

Romania

Romania: Decline in industrial activity softens in August, marking best reading in six months

October 14, 2020

Industrial production slid 5.1% on a working-day and seasonally-adjusted year-on-year basis in August, a softer contraction than July’s 8.1% drop and marking the best reading since February.

Looking at the details of the release, August's improvement was broad-based, with output in the manufacturing, mining and quarrying, and electricity, gas, steam and air conditioning supply sub-sectors recording smaller drops than in July.

On a seasonally-and working-day adjusted monthly basis, factory output rose at a softer pace of 3.9% in August (July: +5.3% mom). Meanwhile, the annual average variation of industrial production came in at minus 11.8% in August, mirroring July's figure.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 8.1% in 2021, which is up 0.9 percentage points from last month’s estimate. The panel expects industrial output to increase 5.4% in 2022.


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Romania Industry August 20 20 1

Note: Year-on-year and annual average variation of seasonally- and working day-adjusted industrial production index in %.
Source: National Institute of Statistics.


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