Romania: Industrial activity falls at sharpest rate since June 2020 in April
Industrial output nosedived 8.7% year on year in April (March: -1.9% yoy). April’s result marked the worst reading since June 2020. The sharper drop was primarily driven by a dive in manufacturing output. In addition, electricity, gas, steam and air conditioning supply production contracted at a steeper rate.
On a monthly basis, industrial production grew 0.6% in seasonally-adjusted terms in April, contrasting March’s 0.9% fall. Meanwhile, annual average industrial production growth fell to 1.6% in April (March: +6.1%). This signals a worsening trend in the industrial sector.