Romania Industry March 2022

Romania

Romania: Industrial activity deteriorates in March

May 13, 2022

Industrial output declined 1.6% in year-on-year terms in March, which contrasted February's 0.7% increase. Looking at the details of the release, March's drop was largely driven by a fall in manufacturing output. In addition, production contracted in both the mining and quarrying, and electricity, gas, steam and air conditioning supply sub-sectors.

On a seasonally-adjusted monthly basis, industrial production fell at a softer rate of 0.7% in March, compared to February’s -1.2%. Meanwhile, annual average industrial production growth fell to 6.2% in March (February: +7.6%), signaling a worsening trend in the industrial sector.

Our panelists expect industrial output to expand 2.6% in 2022, which is down 0.1 percentage points from last month’s estimate. In 2023, the panel expects industrial output to increase 3.8%.


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Romania Industry March 2022

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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