Romania: Industrial output contracts at sharpest pace in over a decade in November
January 15, 2020
Industrial production dived 7.7% year-on-year in seasonally- and working day-adjusted terms in November, following October’s 7.6% fall and marking the sharpest contraction since May 2009. November’s slump reflected sizeable declines in output in all three sectors: manufacturing, mining and quarrying, and electricity supply.
The annual average variation in industrial output, meanwhile, fell to minus 2.8% in November from minus 2.0% in October. Lastly, in seasonally- and working day-adjusted month-on-month terms, industrial production slipped 0.2% in November, following October’s 1.9% dip.
Author: Javier Colato, Economist