Romania Industry July 2020

Romania

Romania: Decline in Industrial output softens in July

September 14, 2020

Industrial production declined 9.9% on a working-day and seasonally-adjusted year-on-year basis in July, a smaller contraction than June’s 14.3% drop.

Looking at the details of the release, July’s softer drop was driven by a markedly weaker decline in electricity, gas, steam and air conditioning supply production, as well as a more moderate drop in manufacturing and mining and quarrying output.

On a seasonally-and working-day adjusted monthly basis, industrial output continued to increase in July, albeit at a significantly softer pace, growing 3.3% (June: +16.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 12.0% in July, down from June’s minus 11.6%.

FocusEconomics Consensus Forecast panelists expect industrial output to plunge 11.4% in 2020, which is down 1.5 percentage points from last month’s estimate. The panel expects industrial output to increase 7.2% in 2021.


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Romania Industry July 20 20

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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