Romania: Growth in industrial production softens in February
Industrial output expanded 5.8% in annual terms in February, down from January’s robust 8.5% growth rate. According to the Statistical Institute, the healthy reading came on the back of strong growth in the manufacturing, and the mining and quarrying sectors; and a subdued increase in the steam and air conditioning, electricity and gas sector.
On a seasonally- and working-day adjusted month-on-month basis, industrial production dropped 0.7% in February, a softer decline than January’s sharp 3.4% contraction. Meanwhile, annual average growth in industrial production was broadly unchanged from January’s strong showing of 8.1%, inching up to 8.2% in February.