Romania: Industrial activity deteriorates in March
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.