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.