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%.