Romania: Industrial output contracts at sharpest rate in over a decade in August
Industrial production fell 7.0% on an annual basis in August, following July’s 3.0% contraction and marking the worst result since June 2009. August’s plunge reflected an across-the-board slump in all three sub-components of the index: mining, manufacturing and electricity supply.
Annual average industrial output growth, meanwhile, fell to minus 0.6% after a 0.3% increase in July.
On a seasonally- and working day-adjusted basis, industrial output rose 0.1% month-on-month in August (July: -3.3% month-on-month s.a.).