Romania: Growth in industrial production eases significantly in March
Industrial output expanded a meagre 1.2% in annual terms in March, strongly down from February’s 5.8% growth rate and the lowest reading in almost one year. According to the Statistical Institute, the expansion came on the back of reasonable growth in the, electricity and gas, steam and air conditioning, and the mining and quarrying sectors; growth was flat in the manufacturing sector.
On a seasonally- and working-day adjusted month-on-month basis, industrial production rebounded to 0.5% growth in March, contrasting February’s 0.7% contraction. Meanwhile, annual average growth in industrial production declined from February’s 8.2% to 7.4% in March.