Romania Industry January 2021

Romania

Romania: Industrial activity deteriorates in January

March 12, 2021

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%.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 8.6% in 2021, which is down 0.4 percentage points from last month’s estimate. The panel expects industrial output to increase 4.3% in 2022.


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Romania Industry Chart


Romania Industry January 2021

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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