Romania Industry April 2020

Romania

Romania: Industrial output contracts at sharpest pace on record in April

June 12, 2020

Industrial output fell 38.6% year-on-year in April (March: -14.5% yoy) marking the sharpest contraction on record.

April's figure was largely driven by a significant deterioration in manufacturing output. Moreover, mining and quarrying output dropped markedly, while electricity, gas, steam and air conditioning fell at a softer rate.

On a monthly basis, industrial production plummeted 27.7% in seasonally-adjusted terms in April, which was well below March’s 12.4% fall. The reading marked the worst result on record. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.6%, down from March's minus 5.4% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to plunge 7.4% in 2020, which is down 0.4 percentage points from last month’s estimate. The panel expects industrial output to increase 5.0% in 2021.


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Romania Industry April 20 20

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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