Romania Industry May 2020

Romania

Romania: Industrial output drops again in May

July 14, 2020

Industrial production dropped 28.0% year-on-year in May, a softer fall than April’s 38.7% decline, which had marked the sharpest contraction on record.

Looking at the details of the release, manufacturing output shrank at a more moderate pace in May, and mining and quarrying output also dropped at a more moderate, albeit still pronounced, rate. Meanwhile, electricity, gas, steam and air conditioning supply production dropped at a faster pace.

On a seasonally-adjusted monthly basis, industrial output rose 15.1% in May (April: -27.9% mom), the best result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 10.8% in May, down from April's minus 8.7%.

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 May 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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