Romania Industry June 2022

Romania

Romania: Industrial output deteriorates in June

August 12, 2022

Industrial production slid 3.6% year on year in June (May: +0.5% yoy). June's weakening was largely driven by a deterioration in electricity output. Meanwhile, mining and quarrying production dropped at a more moderate rate and manufacturing output slipped into contraction.

On a seasonally-adjusted monthly basis, factory output fell at a sharper rate of 3.9% in June (May: -0.7% mom), the worst result since May 2021. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 0.9% in June, contrasting May's plus 0.2% reading.

Our panelists expect industrial output to expand 1.6% in 2022, which is down 0.4 percentage points from last month’s estimate. In 2023, the panel expects industrial output to increase 3.3%.


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Romania Industry June 2022 0

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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