Romania: Industrial falls at sharper rate in October
Industrial output declined 6.1% in annual terms in October, following September’s 3.3% and marking the worst result since July 2020. October’s downturn was chiefly driven by a sharper drop in manufacturing production. Meanwhile, mining and quarrying output fell at a softer pace than in September.
On a monthly basis, factory output contracted 0.9% in seasonally-adjusted terms in October, improving from September’s 2.3% decline. Meanwhile, the trend deteriorated, with the annual average variation of industrial production coming in at 7.7% in October from 8.3% in September.
FocusEconomics Consensus Forecast panelists expect industrial output to expand 4.4% in 2022, which is down 0.3 percentage points from last month’s estimate. The panel expects industrial output to increase 3.9% in 2023.