Romania: Industrial activity decreases at softer pace in August

Industrial production dropped 0.3% year on year in August (July: -0.7% yoy). August's softer drop was partly due to faster growth in manufacturing output. In contrast, electricity production fell at a quicker pace while mining and quarrying output declined at the same pace as in July.

On a monthly basis, industrial output increased 0.1% in seasonally adjusted terms in August, which was below July’s 0.5% expansion. Meanwhile, the annual average variation of industrial production was stable at July's minus 2.2% in August.

Our panelists expect industrial output to contract 0.7% in 2022, which is down0.9 percentage points from last month’s estimate. In 2023, the panel expectsindustrial output to increase 1.8%.