Romania: Growth in industrial production gains further steam in July

Industrial output expanded 7.3% in annual terms in July, a six-month high and a notable acceleration from June’s 4.6% growth rate. According to the Statistical Institute, the expansion in July came on the back of sustained growth in the manufacturing; mining and quarrying; and electricity and gas, steam and air conditioning sectors.

On a seasonally- and working-day adjusted month-on-month basis, industrial production output contracted 3.0% in July, strongly contrasting June’s 1.3% expansion. Annual average growth in industrial production, meanwhile, remained unchanged at June’s 6.4% in July.

Romania Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.6% in 2018, which is up 0.3 percentage points from last month’s estimate. The panel predicts that industrial output will increase 3.9% in 2019.