Romania: Industrial activity deteriorates in January
Industrial output dropped 0.9% in year-on-year terms in January, contrasting December’s 1.6% increase and falling for the first time in four months. January’s downturn was largely driven by a drop in manufacturing production. Moreover, mining and quarrying output contracted at a notably stronger rate.
On a seasonally-adjusted monthly basis, industrial production flatlined in January (December: +0.9% s.a. mom). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 9.3%, up from December’s minus 9.5%.