Romania Industry March 2020

Romania

Romania: Industrial activity contracts at sharpest pace on record in March

May 13, 2020

Industrial production slid 14.5% year-on-year in March (February: -2.0% yoy). March's reading marked the sharpest drop since current records began in January 2006.

March's figure was largely driven by a sharp deterioration in manufacturing output. In addition, mining and quarrying output fell markedly.

On a seasonally-adjusted monthly basis, industrial production fell 12.4% in March (February: +1.4% mom). The reading marked the worst result on record. Meanwhile, the trend pointed down, with the annual average change of industrial production coming in at minus 5.4%, down from February's minus 4.1%.

FocusEconomics Consensus Forecast panelists expect industrial output to plunge 7.0% in 2020, which is down 2.6 percentage points from last month’s estimate. The panel expects industrial output to increase 4.9% in 2021.


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Romania Industry March 20 20

Note: Year-on-year and annual average variation of seasonally- and working day-adjusted industrial production index in %.
Source: National Institute of Statistics.


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