Romania: Growth in industrial production slows notably in August
Industrial output expanded 3.7% in annual terms in August, well below July’s six-month high 7.3% growth rate. According to the Statistical Institute, the expansion in July came on the back of sustained growth in the manufacturing; and electricity and gas, steam and air conditioning sectors. On the other hand, the mining and quarrying sector contracted.
On a seasonally- and working-day adjusted month-on-month basis, industrial production output rose 0.4% in August, contrasting July’s 1.7% drop. Annual average growth in industrial production, meanwhile, dropped from 6.4% in July to 6.1% in August.