Romania Industry May 2016

Romania

Romania: Growth in industrial production eases in May

July 13, 2016

Industrial output rose 1.5% in May over the same month last year, coming in below the revised 3.8% expansion tallied in April (previously reported: +3.4% year-on-year). According to the National Institute of Statistics, the reading reflected a slowdown in manufacturing and contractions in the electricity, gas, and steam component as well as mining and quarrying.

On a seasonally-adjusted month-on-month basis, industrial production swung from April’s revised 2.1% expansion (previously reported: +3.5% mom) to a steep 4.0% contraction in May, marking the lowest reading in three years. Meanwhile, annual average growth in industrial production inched up from 2.3% to 2.4%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.9% in 2016, which is down 0.2 percentage points from last month’s estimate. The panel estimates that industrial output will increase 4.4% in 2017.


Author: Jean-Philippe Pourcelot, Economist

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Romania Industry May 2016 0

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


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